In the Past, Manufacturer's Representatives Did Not Have Real-Time Inventory

question 110

Multiple Choice

In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value driven by

• A)sharing information across their own organizations and with other firms.
• B)balancing customers' benefits and costs with customers' needs and wants.
• C)evaluating strategic competitive partnerships.
• D)building relationships with government regulators of marketing institutions.
• E)keeping prices below those charged by competitors.

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Definitions:

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Fees Earned

Income received from providing services, a form of revenue for professionals and businesses engaged in service activities.

Interest Income

Revenue earned from the investment of funds in interest-bearing accounts or securities, such as bonds or savings accounts.

Rent Expense

An expense account recording the cost incurred by a business to rent facilities or equipment.