When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage
A. sales would be low, profits would be high, and all potential golfers would jump at the opportunity to buy his product.
B. sales would slow down, profits would peak, and early adopters of golf equipment would be his major customers.
C. sales would be low and profits nonexistent, but he would attract golf equipment innovators.
D. sales would level off, profits would decline, and mature golfers would be attracted to his product.
E. sales would rise quickly, profits would jump, and even laggards would buy his product.
Answer: C
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Which of the following is not a good example of how accountants might use data analytics to help evaluate estimates used to value financial statement accounts?
A. Estimate the collectability of accounts receivable balances. B. Automate the order entry process for online customers. C. Assess the likelihood and level of expected warranty claims. D. Assess property, plant & equipment values based on current comparable prices.
The quantity of a product that people will buy is most likely to decrease as the product's _____ increases
a. distribution b. quality c. price d. promotion
Jody is emotionally fit, so she is likely to
A) have difficulty controlling her weight. B) be a high maintenance person. C) be quite hostile toward people she dislikes. D) appear relaxed and friendly at meetings.
The statement of cash flows is:
A. A financial statement that presents information about changes in equity during a period. B. A financial statement that reports the cash inflows and cash outflows for an accounting period, and that classifies those cash flows as operating activities, investing activities, or financing activities. C. A financial statement that lists the types and amounts of assets, liabilities, and equity of a business on a specific date. D. A financial statement that lists the types and amounts of the revenues and expenses of a business for an accounting period. E. Another name for the statement of financial position.