The disclosure principle states that a company should disclose all major accounting methods and procedures in the ________

Which of the following is the best description of intellectual property?

A) physical property, such as land and housing B) anything that a person thinks C) property that is the result of mental creativity D) property that is considered to be very fruitful

Which of the following is true of creative destruction?

A) It makes use of illegal innovations and techniques to displace established businesses. B) It presents newcomers with an opportunity to succeed against incumbents in an industry. C) It happens when technologies that provide process-streamlining advantages come to the fore. D) It increases the operational costs of the entire industry and reduces profits.