Which of the Following Is True of the Universal Product

question 95

Multiple Choice

Which of the following is true of the Universal Product Code (UPC) ?

• A) It is a five-digit number used to control inventory.
• B) It is a package communication element.
• C) It is legally required for products with dual distribution channels.
• D) It is used only by companies that have more than one retail outlet.
• E) It prevents product cannibalization.

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Definitions:

Treasury Stock

Securities initially sold to the public and later repurchased by the company that issued them, diminishing the number of shares circulating in the market.

Par Value

The face value of a bond or stock, as stated on the certificate, which is the amount the issuer agrees to pay at maturity (for bonds) or an arbitrary value assigned for shares.

Journal Entry

A record in accounting that represents a single transaction and its impact on the financial statements, made up of debits and credits.

Purchase Price

The amount of money paid or agreed to be paid by the buyer to acquire a good or service from the seller.