Square Provides a Means for Small Businesses to Process Credit

question 29

Multiple Choice

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.It used which new entry strategy to enter the market initially?

• A) imitative
• B) pioneering
• C) adaptive
• D) differentiated

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Definitions:

Indorsed

The act of signing one's name on the back of a check or other negotiable instrument for the purpose of transferring rights or entitlements.

Ratification

The formal approval of an agreement, treaty, or act, making it officially valid.

Promissory Note

A written promise to pay a specified amount of money to a person or entity under agreed conditions.

Holder in Due Course

A legal term referring to a person who has received a negotiable instrument in good faith and for value, thereby having certain protections against defects in the instrument's title.