2 When Channels Facilitate the Transfer of Ownership of Goods

question 10

Multiple Choice

2 When channels facilitate the transfer of ownership of goods to the consumer,it is known as:

• A) function utility.
• B) place utility.
• C) possession utility.
• D) form utility.
• E) time utility.

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Definitions:

Expenses

Monetary costs incurred in the operation of a business, leading to the creation of liabilities or decrease in assets.

Basic Accounting Equation

The fundamental equation of double-entry bookkeeping, stating that assets equal liabilities plus owner's equity.

Transaction

An agreement or exchange between two parties that has a measurable financial effect on the accounts of a business.

Accounts

Financial records of transactions that track the income, expenses, assets, liabilities, and equity of an entity.