In the Idea Evaluation Stage

question 121

Multiple Choice

In the idea evaluation stage,

• A)an actual product is developed.
• B)companies cannot estimate likely costs.
• C)concept testing is used to get customer reactions.
• D)parts of a product are designed and manufactured.
• E)the final ROI is estimated.

---

Definitions:

Accounts Receivable

Unsettled financial obligations to a corporation from its customers for products or services already delivered or engaged in, awaiting payment.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company’s balance sheet.

Just-in-time

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Restrictive Policy

Measures taken by a government or financial institution to limit borrowing and spending in an attempt to curb inflation or stabilize the economy.