Firms That Constantly Innovate Do So to Develop Open Standards

question 19

True/False

Firms that constantly innovate do so to develop open standards for competitors to become compatible.

---

Definitions:

Pass-Through Tax Entity

A business structure that avoids corporate tax, instead, profits and losses are passed through to the individual owners' tax returns.

Fajitas

A Tex-Mex culinary dish consisting of grilled meat, usually served with vegetables and tortillas on the side.

Capital Contributions

Investments or payments made by owners or shareholders into a company or partnership to provide it with working capital or to cover operational needs.

Dissolved

The process by which a company or partnership formally closes its business and ceases operations.