________ Are Less Frequently Purchased Consumer Products and Services That

question 10

Multiple Choice

________ are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price and style.Consumers spend much time and effort in gathering information and making comparisons about these products.

• A)Shopping products
• B)Convenience products
• C)Unsought products
• D)Industrial products
• E)Line extensions

---

Definitions:

Useful Life

The estimated period over which an asset is expected to be usable for its intended purpose.

Plant Asset

Long-term tangible assets used in the production and operation of a company, excluding inventory.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the United States.

Depreciation Method

A systematic approach used to allocate the cost of a tangible asset over its useful life.