The Consumer Product Classification System Is Based On

question 14

Multiple Choice

The consumer product classification system is based on:

• A) how the market is segmented
• B) the way the products are manufactured
• C) the way products are used
• D) the physical attributes of the product
• E) the amount of effort consumers spend to acquire the product

---

Definitions:

Liabilities

Financial obligations or debts owed by a company to creditors, representing claims against a company's assets.

Cash

Money in the form of coins or banknotes, used for transactions, and considered the most liquid asset.

Credit

A contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date, often with interest.

Asset Account

A type of account that shows the value of all assets a company has, including tangible and intangible items.