Which of the Following Companies Would Be Most Likely to Have

question 41

Multiple Choice

Which of the following companies would be most likely to have an unearned revenue account?

• A)grocery store
• B)department store
• C)hotel chain
• D)car dealership

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Definitions:

Standardization

The process of implementing and developing technical standards based on the consensus of different parties including firms, users, interest groups, standards organizations, and governments.

Cost Economies

Refers to the reduction in average cost of production as a firm increases its size or volume of output, typically achieved through operational efficiencies.

Product Variety

The assortment or mix of different products that a company offers to its customers.

Homogeneous Preferences

A situation in market analysis where consumers have similar tastes and preferences for goods or services.