A Promise Received from a Business's Customers to Pay for Goods

question 58

Multiple Choice

A promise received from a business's customers to pay for goods and services that they received from the business is called a(n) :

• A)account payable.
• B)revenue.
• C)expense.
• D)account receivable.

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Definitions:

Lose-Lose Approach

A conflict resolution or negotiation strategy where all parties involved end up being worse off or not achieving their objectives.

Competitor

Someone who is most likely to try a win-lose approach to conflict resolution, especially if he or she is personally involved in the conflict.

Negotiation-Of-Selves Conflict

A psychological conflict that arises when an individual's different social roles or selves are in opposition, requiring negotiation or compromise among them.

Lose-Lose Strategy

A strategy in which everyone gives up something, and the focus is on compromise.