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Margie's Flower Shop Is Interested in Improving Her Performance in the Financial

question 52

Essay

Margie's Flower Shop is interested in improving her performance in the financial area.This interest came about after Margie had her year-end financial statements prepared and, although she was profitable, her cash flow was inadequate.Margie has discussed her problems with her neighboring store, an auto supply retail store.
Required:
List five financial processes that Margie and the auto supply business have in common.


Definitions:

Discretionary Product

A non-essential good or service purchased with disposable income, often subject to personal tastes and economic conditions.

Shopping Product

Goods that a consumer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style.

Convenience Product

A consumer item that is widely available and purchased frequently with minimal effort.

Unsought Product

A type of product that consumers typically do not think of buying until a need arises or they are made aware of it through advertising.

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