In an Episode of the Glee Television Series, Members of the Glee

question 282

Multiple Choice

In an episode of the Glee television series, members of the glee club sold home-baked cupcakes at school to raise money. The students selling their cupcakes to classmates would be an example of

• A) a personalized distribution.
• B) a nonpermanent distribution.
• C) an informal channel of distribution.
• D) a direct channel of distribution.
• E) an indirect channel of distribution.

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services provided on credit.

Generally Accepted Accounting Principles

A set of accounting standards and procedures adopted in the U.S. that guide how financial statements are prepared and reported.

Correcting Entries

Entries made in a journal to correct mistakes or inaccuracies found in the financial statements or ledgers after they have been posted.

Revenue

The sum of income a corporation generates from selling products or offering services over a specified timeframe.