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The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________.
Interest Income
Revenue earned by lending funds or through investment securities that pay interest.
Accrued Interest
Interest that has accumulated over a period but has not yet been paid or received.
Note Payable
A financial obligation represented by a written promise to pay a specified amount of money, plus interest, by a certain date or on demand.
Interest Expense
The cost incurred by an entity for borrowed funds, considered a non-operating expense on the income statement.
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