Which of the Following Statements Is True for a Business

question 57

Multiple Choice

Which of the following statements is true for a business cluster?

• A)It refers to the geographic concentration of business initiatives, suppliers, and associated institutions in a particular field.
• B)It refers to the virtual concentration of manufacturers, dealers, and distributors dealing with the same product.
• C)It refers to the categorization of countries similar in economic status and dealing with similar financial issues.
• D)It refers to the regional concentration of customers who make the same social and cultural references while evaluating products.
• E)It refers to a conglomeration of organizations who share cutting-edge technology and latest business practices for mutual benefit.

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Definitions:

Technological Advances

Developments and improvements in technology that enhance productivity, efficiency, and provide new opportunities for businesses and individuals.

Group Depreciation

A method in accounting where a collection of assets that are similar in nature and have approximately the same useful lives are depreciated as a single asset.

Salvage Value

The estimated residual value of an asset at the end of its useful life, which can be recovered through disposal or sale.

Straight-Line Method

A depreciation technique that allocates an equal amount of depreciation to each year of the asset's useful life, resulting in consistent annual charges.