A Famous Fast-Food Joint Is Offering All Its Regular Customers

question 38

Multiple Choice

A famous fast-food joint is offering all its regular customers a product of their individual choice through the program, "Have It Your Way". This is an example of:

• A) mass production.
• B) mass customization.
• C) mass standardization.
• D) mass advertising.

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Definitions:

Non-current Liability

Long-term financial obligations that are due beyond one year or beyond the normal operating cycle.

Cash Equivalents

Short-term, highly liquid investments that can be easily converted into a known amount of cash with minimal risk of changes in value.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure consistency.

Reconciling Information

The process of verifying the accuracy and consistency of two sets of records, identifying and explaining discrepancies to ensure financial records match.