Which of the Following Describes a Customer Loyalty Program

question 34

Multiple Choice

Which of the following describes a Customer Loyalty Program?

• A) Firms can create customer communities using company websites and social networks like Facebook to facilitate communication or the exchange of ideas between customers and company personnel.
• B) Social media (such as Facebook and Twitter) present a number of opportunities for companies to build, maintain, and strengthen relationships with customers.
• C) Rewards repeat customers with discounts or other items depending on the frequency of the purchases.
• D) Allows customers to customize goods and services to create a uniqueness to the product.

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Definitions:

Unadjusted Cost of Goods Sold

Unadjusted Cost of Goods Sold (COGS) is the initial calculation of all costs directly associated with the production of goods before any adjustments for inventory changes or other factors.

Journal Entry

A record in the accounting journal that represents a business transaction and its effect on the accounts.

Manufacturing Overhead

All indirect costs associated with the production process, from maintenance expenses of the production facility to the supplies needed for operation.

Work in Process

Goods that are midway through the manufacturing process but are not fully finished.