You Are Given the Following Limited Information About a Market

question 104

Essay

You are given the following limited information about a market consisting of ten people.Describe all the possible ways to segment this market.
$$\begin{array} { l l } \text { Gender } & \text { Income } \\\hline \text { Male } & \text { Medium } \\\text { Female } & \text { Law } \\\text { Female } & \text { Law } \\\text { Male } & \text { High } \\\text { Female } & \text { Law } \\\text { Male } & \text { Law } \\\text { Male } & \text { Medium } \\\text { Male } & \text { High } \\\text { Female } & \text { High } \\\text { Female } & \text { High }\end{array}$$

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Definitions:

Revenue Recognition

An accounting principle that determines the specific conditions under which income becomes realized as revenue.

Completed Contract

This accounting practice records the income and expenses of projects after they are finalized, ensuring financial statements only reflect finished work.

Percentage-of-Completion

An accounting method that recognizes revenues and expenses in relation to the completion percentage of a project.

Revenue Recognition

The accounting principle dictating the specific conditions under which income becomes recognized as revenue on the financial statements.