The Nonphysical Attributes of the Product, Including Product Warranties, Financing

question 63

Multiple Choice

The nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service are called the:

• A)augmented product.
• B)product mix.
• C)customer lifetime value.
• D)brand services.
• E)core customer value.

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Definitions:

Wages Payable

The total amount of wages that a company owes to its employees for work performed but has not yet paid.

Prepaid Advertising

Represents the costs paid in advance for advertising services, which will be expensed over time as the advertising benefits are received.

Income Statement

A financial statement that reports a company’s financial performance over a specific accounting period, detailing revenues, expenses, and profits.

Current Year

The ongoing year or period that is currently being accounted for or considered, often in contrast to previous or future years.