What are the phases of the product development process and what takes place in each?
What will be an ideal response?
Answer: The five phases in the development of a new product or service are concept development, planning, design and development, commercial preparation, and launch. The first phase, concept development, is where the company identifies ideas for new or revised products and services. The second phase, the planning phase, is where the company begins to address the feasibility of a product or service. During the design and development phase the company starts to invest heavily in the development effort and builds and evaluates prototypes. The fourth phase is commercial preparation and consists of ramping up activities associated with the introduction of a new product or service. At this stage, firms start to invest heavily in the operations and supply chain resources needed to support the new product or service. The fifth and final phase of product development is the launch phase. For physical products, this usually means filling up the supply chain with products. For services, it can mean making the service broadly available to the target marketplace.
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Briefly describe the characteristics of the Millennials
What will be an ideal response?
Using the accrual basis of accounting, when is revenue from the sale of merchandise normally recognized?
A) On the date the sale is made. B) On the date the customer pays for the merchandise. C) Either on the date on which the sale occurs, or the date on which the customer pays. D) When the merchandise is sold, if sold for cash, or when payment is received, if sold on credit.
Susie has a great farm bordering on a river and plans to build a house on a cliff overlooking the water. She was also considering building a couple of guest cottages to rent to vacationers. One day a land conservatory came to Susie and asked her to designate the land as a pristine area whereby no development or building could take place. Susie told them to get lost. The next thing she knew, the
jurisdiction in which she lived had passed a regulation permanently prohibiting riverfront owners in her area from building any structures within one half mile of the river. There had been no such restriction in her state or county previously, and Susie suspects that the regulation is part of a plot to force landowners to agree to the request of the land conservatory. Susie tells her builder to go ahead with plans to construct the home because the government cannot take land through excessive regulation. Is Susie correct that the government cannot take land through excessive regulation? a. Susie is incorrect although if the government action constitutes a taking, compensation to the landowner must be provided. b. Susie is incorrect, and no compensation to the landowner is required. c. Susie is incorrect although she would only be entitled to compensation for any lost profits she can establish. d. Susie is correct, and the regulation would be overturned by a federal court.
A citation identifies the publication in which a legal authority can be found
Indicate whether the statement is true or false