A Business Action That Has Been Widely Adopted Within an Industry

question 38

Multiple Choice

A business action that has been widely adopted within an industry or occupation is known as _____.

• A) best business practice
• B) specialized business professionalization
• C) standard business practice
• D) expert professionalization

Explain the importance of incremental costs and benefits in decision-making processes.

Analyze the financial impact of make or buy, and sell or process further decisions.

Calculate the minimum acceptable price for selling or purchasing products based on relevant costs.

Evaluate the profitability of using existing resources versus obtaining new resources.

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Definitions:

Sound-on-film

A technology that synchronizes audio with moving pictures, allowing for sound to be recorded onto the same film strip as the image.

Movietone

Movietone refers to an early sound film system that combined motion pictures with synchronized recorded sound.

Three-strip Technicolor

Three-strip Technicolor is a color film process that uses three strips of film to capture the red, green, and blue color components, introduced in the 1930s to create vivid color movies.

Sound Cinema Technology

The technology enabling the synchronization of motion picture with sound, revolutionizing the film industry in the late 1920s.