It Is Not Necessary to Prepare Formal Financial Statements If

question 59

True/False

It is not necessary to prepare formal financial statements if a worksheet has been prepared because the financial position and net income are shown on the worksheet.

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Definitions:

Substitute Firms

Companies that offer alternative or replacement products and services that meet the same needs or demand of consumers.

Target Markets

Specific groups of potential customers at which a company directs its marketing efforts and product offerings.

Cross Product Marketers

Marketers who strategize to promote and sell complementary or related products to customers.

Electronic Commerce

The buying and selling of goods and services through the internet or other electronic systems.