Which of the following statements about the idea evaluation step is FALSE?
A. This step should gather enough information to help decide whether there is an opportunity.
B. Product planners can compare the cost advantages and limitations of a new product with those currently being used.
C. Companies can often estimate likely costs, revenue, and profitability at this stage.
D. Product tests with customers are used to revise the early versions of the product.
Answer: D
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The assets of a company total $716,000; the liabilities, $208,000. What is the amount of equity?
A. $924,000. B. $508,000. C. $208,000. D. $716,000. E. It is impossible to determine unless the amount of the stock issuances is known.
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Indicate whether the statement is true or false
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