Converse Started Selling Its "High-Top" Canvas Basketball Shoes in Colors

question 286

Multiple Choice

Converse started selling its "high-top" canvas basketball shoes in colors such as hot pink, lime green, and purple, to accompany their traditional colors of black and white. Converse seems to be pursuing a _____________ opportunity.

• A) market penetration
• B) market development
• C) product development
• D) diversification
• E) breakthrough

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Definitions:

Creditors

Creditors are individuals or entities to whom a company owes money for goods or services that have been provided.

Asset Account

An account on a company's balance sheet that represents a resource with economic value that an entity owns or controls.

Journal

An official financial record in which transactions are recorded in chronological order before they are transferred to accounts in the general ledger.