In Order to Bring the Walker Hotel and Convention Center

question 33

Multiple Choice

In order to bring the Walker Hotel and Convention Center up to industry standards,each guest room was redecorated with new wallpaper,drapes,carpeting,mattresses,and sofas. Melanie Simms,sales manager for the Center,has recommended that guest rooms be upgraded with the addition of wide desks,free wi-fi,and 24-hour room service. From the viewpoint of most business travelers,these changes would result in the creation of a(n) :

• A)potential product
• B)generic product
• C)expected product
• D)mature product
• E)value-added product

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Definitions:

Accounting Period

A specific period of time used for financial reporting and analysis, typically a year or quarter.

Fiscal Year Periodic Statements

Financial statements prepared at regular intervals, typically annually, based on the company's fiscal year rather than a calendar year.

Compound Entry

A transaction involving more than one debit or credit.

Journal Entry

A record in accounting that notes the debit and credit transactions affecting the financial statements.