In the new product development process, a description of the features a product will have and the benefits those features will provide a customer is called a ________
A) product idea
B) product concept
C) product image
D) product innovation
E) product adoption
B
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Which one of the approaches for the allowance method of accounting for bad debts emphasizes matching bad debts expense with revenue on the income statement?
a. The percentage of accounts receivable approach b. The percentage of net credit sales approach c. The direct write-off method d. The uncollectible approach
Which of the following bank accounts has the lowest effective annual return?
A. An account that pays 8% nominal interest with daily (365-day) compounding. B. An account that pays 8% nominal interest with monthly compounding. C. An account that pays 8% nominal interest with annual compounding. D. An account that pays 7% nominal interest with daily (365-day) compounding. E. An account that pays 7% nominal interest with monthly compounding.
Which of the following is not a required disclosure regarding intangible assets in the period a company acquires intangible assets?
A) the cost of any intangible assets acquired, separated into assets subject to amortization, assets not subject to amortization, and goodwill B) for assets subject to amortization, the residual value and the weighted-average amortization period C) the rate of return used to estimate the value of goodwill purchased D) the cost of any research and development acquired and written off, and where it is included in the income statement
For a firm considering AIS and IT initiatives, accountants can play an important role in which of the following ways?
A. Implementing the controls in the new technology. B. Entering transactions into the new system. C. Developing and reviewing the business case for the initiatives. D. Auditing the financial statement reports created by the new system.