Percent of Sales Coming from Products Introduced in the Last

question 3

Multiple Choice

Percent of sales coming from products introduced in the last five years is called __________.

• A) performance
• B) engagement
• C) innovation
• D) tenure

---

Definitions:

Prepaid Rent Expense

An account that represents rent payments made in advance for a future period; classified as a current asset on the balance sheet.

Total Liabilities

The sum of all financial obligations a company owes to external parties, which can include loans, accounts payable, and bonds payable.

Total Expenses

The sum of all costs and expenses incurred by a business during a specific period, including operational, administrative, and selling expenses.

Adjusting Entries

Entries made in the books of account to correct or allocate income and expenses to the appropriate accounting period.