The Survival of the Fittest Tells Us

question 16

Multiple Choice

The Survival of the Fittest tells us:

• A) only the most innovative and adaptive firms are likely to survive competition.
• B) only the most innovative and adaptive firms are likely to attract more competition.
• C) only the least innovative and adaptive firms are likely to survive competition.
• D) only the most innovative and adaptive firms are likely to migrate to other products.

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Definitions:

Cash Only Credit Policy

A credit policy where a company does not extend credit and only accepts cash payments.

Net 30 Policy

A payment term used in business transactions that requires payment to be made in full within 30 days of the invoice date.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers.