Which Concept Should Be Applied When Reporting a Piece of Land

question 12

Multiple Choice

Which concept should be applied when reporting a piece of land that was bought for $50,000 five years ago, and which would probably now sell for $80,000?

• A) The cost principle.
• B) The asset principle.
• C) The separate entity concept.
• D) The monetary concept.

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Definitions:

Puffery

The legal exaggeration of praise, stopping just short of deception, lavished on a product.

Push Strategy

is a marketing approach where a product is promoted by pushing it onto consumers, typically through channels like wholesalers and retailers, rather than waiting for customer demand.

Pull Strategy

A strategy in which the goal is to get consumers to pull the product through the marketing channel by demanding it.

Target Audience

A specific group of consumers identified as the intended recipient of an advertisement, product, or campaign, characterized by particular demographics, interests, or purchase behavior.