Internal Records ________

question 6

Multiple Choice

Internal records ________.

• A) focus entirely on customer characteristics and behavior
• B) are generally under the control of the marketing department
• C) can provide marketers with information about sales and inventory movements
• D) are of little importance to marketers

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Definitions:

Journalized

The process of recording business transactions in the journal, which is the first step in the accounting cycle.

Posted

In accounting, "posted" refers to the process of recording a financial transaction in a company's ledger, which then becomes part of the official financial records.

Accounting Cycle

A process that involves recording and processing all financial transactions of a company, from when the transaction occurs, to its representation in the financial statements.

Closing Entries

Entries recorded at the closing of an accounting cycle to shift balances from temporary to permanent accounts, readying the accounts for the upcoming period.