Compare and contrast the technological environment and the market environment within which a business operates
What will be an ideal response?
Answer: The technological environment refers to forces resulting from the practical application of science to innovations, products, and processes. Technological changes have the potential to change every facet of business, from altering internal processes to creating or destroying market opportunities.
Every company operates within a specific market environment composed of three important groups: (1) its target customers, (2) buying influences that shape the behavior of those customers, and (3) competitors–other companies that market similar products to those customers. The nature and behavior of these groups and their effect on business strategy vary widely from industry to industry.
You might also like to view...
[APPENDIX] Explain the differences between a partnership and sole proprietorship. Include in your discussion whether either is considered a separate legal entity
Which of the following is NOT a classification of the projective techniques used in marketing research?
A) association technique B) evaluation technique C) construction technique D) expressive technique E) completion technique
Identify the elements generally included in a business plan
What will be an ideal response?
At the end of the current year, using the aging of receivable method, management estimated that $15,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance of $375. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A.
| Bad Debts Expense | 15,375 | |
| Allowance for Doubtful Accounts | 15,375 |
B.
| Bad Debts Expense | 16,125 | |
| Allowance for Doubtful Accounts | 16,125 |
C.
| Accounts Receivable | 15,750 | |
| Bad Debts Expense | 375 | |
| Sales | 16,125 |
D.
| Accounts Receivable | 16,125 | |
| Allowance for Doubtful Accounts | 16,125 |
E.
| Bad Debts Expense | 15,750 | |
| Allowance for Doubtful Accounts | 15,750 |