Making Plans for How Products That Have Reached the End

question 93

Multiple Choice

Making plans for how products that have reached the end of their useful lives will be dealt with is the primary subject of:

• A)cradle-to-grave assessment.
• B)end-of-life programs.
• C)life-cycle analysis.
• D)three R's programs.
• E)process mapping.

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Definitions:

Customization

The process of modifying or building a product, service, or system according to individual or customer requirements.

Installment Sales Contracts

Contracts in which the buyer agrees to pay the purchase price of an asset in several periodic payments.

Revenue Recognition

The principle that dictates the specific conditions under which revenue can be recognized by an entity in its financial statements.

Revenue Recognition

This is an accounting principle that dictates the specific conditions under which income becomes recognized as revenue.