Martin is comparing the characteristics of his company's water filters with those that are already being marketed in the local market. He realizes that there is lot of scope for his filters as they are functionally more advanced, have a longer life, and can also be marketed at a competitive price than those of other sellers in the local market. The innovation characteristic of Martin's product that will help in wide acceptance of his product in the local market is it

A) relative advantage

Explanation:

A product's relative advantage over its competitors means the aspects at which one good or service is perceived as better or superior to other competing products. This concept is similar to comparative advantage, but from the consumer point of view. Consumers will value one product more because of its relative advantages over its competitors.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.