Which of the Following Is an Example of a Product

question 32

Multiple Choice

Which of the following is an example of a product?

• A)a DVD or movie based on the life of a celebrity
• B)a haircut
• C)a day at Dream World theme park
• D)an SUV or family sedan
• E)All of the above.

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Definitions:

Bill And Hold Basis

An arrangement where a seller bills a customer for products but holds onto the inventory until it is actually needed or requested by the customer.

Sales Agreement

A detailed contract which outlines the terms of sale of goods or services between two parties.

Earnings Management

The practice of using accounting techniques to produce financial reports that present an overly positive view of a company's business activities and financial position.

Manipulate Earnings

The act of altering financial statements through aggressive accounting practices or outright fraud to present a more favorable view of a company's finances.