When the Marketers for Quiznos Try to Convince You to Buy

question 58

Multiple Choice

When the marketers for Quiznos try to convince you to buy their sandwiches instead of Subway sandwiches,they are ________.

• A) responding to a need
• B) creating a need
• C) differentiating between needs and desires
• D) satisfying a need
• E) discounting a need

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Definitions:

Allowance Account

A contra account related to accounts receivable that represents the estimate of receivables that are likely to be uncollectible.

Allowance Account

A contra-asset account used to estimate and offset losses from potentially uncollectible accounts receivable.

Debit Balance

An accounting entry that represents a situation where debits exceed credits in an account, indicative of assets or expenses.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period, ensuring that revenues and expenses are matched accurately.