How Is the Early Majority Section of Consumers Different from the Late

question 54

Multiple Choice

How is the early majority section of consumers different from the late majority section?

• A) While the early majority makes up the mass market, the late majority is the smallest market segment.
• B) The late majority enters the market in the decline stage, whereas the early majority enters the market during the maturity stage.
• C) Although the early majority is confident in their ability to master a new technology, the late majority is not.
• D) While the late majority prefers buying from unknown new ventures, the early majority relies only on well-established brands.

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made on a periodical basis rather than transaction by transaction.

Net Method

An accounting practice where purchase discounts are recorded immediately by reducing the price of the goods bought, assuming the discount will be taken.

Journal Entries

The records of financial transactions in the accounting system, documented in chronological order.

Voucher

A document that serves as evidence for a transaction and authorizes the payment or receipt of money.