A Product Class Is

question 152

Multiple Choice

A product class is

• A) the NAICS designation of an individual product or brand.
• B) the designation of an individual product based upon its form.
• C) a variation of a product within a product mix.
• D) the designation of a product based on whether it is a consumer product or business product.
• E) the industry a set of offerings belongs to.

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Definitions:

Net Income

The total earnings of a company after all expenses and taxes have been deducted from revenue, indicating the company's profit.

Trial Balance

An accounting report that lists the balances of all accounts in the general ledger at a particular point in time to check for errors.

Cash

Liquid assets held by a company, used to settle debts, purchase goods and services, or meet immediate needs; a fundamental indicator of financial health.

Debt Ratio

A financial ratio that measures the proportion of a company's total debt to its total assets, indicating the company's leverage.