LaGrange,a Floral Boutique,segments Its Customers into Three Groups: Those Who

question 87

True/False

LaGrange,a floral boutique,segments its customers into three groups: those who frequently use their services,those who have never used their services,and potential users.This is an example of usage-rate segmentation.

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Definitions:

Assets

Resources owned or controlled by a business, expected to produce future economic benefits.

Expenses

Costs incurred in the process of earning revenue; examples include rent, utilities, and salaries.

Prepaid Rent Expense

An advance payment for rent that is recorded as an asset on the balance sheet until it is consumed or the rental period elapses.

Contra-Asset

An account that offsets an associated asset account on a company's balance sheet, like an allowance for doubtful accounts reducing accounts receivable.