___ Is a Significant Pathway to Business Growth for Both

question 21

Multiple Choice

___ is a significant pathway to business growth for both individual firms and economies by providing new customer bases and expanded markets for products and services.

• A) Importing
• B) Exporting
• C) Global sourcing
• D) Licensing
• E) Franchising

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Definitions:

Long-Term Asset

A resource that is expected to provide economic benefits to a company for more than one fiscal year.

Balance Sheet

A financial overview presenting the resources, obligations, and equity of shareholders of a company at a specific point in time.

Gross Profit

The difference between revenue and the cost of goods sold before deducting operating expenses, indicating the efficiency of core operations.

Merchandising Profit

The profit a company makes from buying goods at wholesale and selling them at retail.