A Succinct Description of the Core Target Market to Which

question 46

Multiple Choice

A succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product is called a

• A)positioning statement.
• B)mission statement.
• C)business plan.
• D)marketing plan.
• E)vision statement.

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Definitions:

Dividends Account

An account that records the dividends declared by a corporation to be distributed to its shareholders.

Net Income

The total profit of a company after all expenses, including taxes, have been deducted from revenues.

Closing Entries

These are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts, hence preparing the books for the next period.

Revenue Accounts

Accounts used to record the income generated from the sale of goods or services in the normal course of business.