As Customer Knowledge About a Product Increases

question 21

Multiple Choice

As customer knowledge about a product increases:

• A)the number of intermediaries in the distribution channels also increases.
• B)the information needs of the customers increase because of their curiosity to learn more.
• C)the need for personalized services increase because customers feel that they need specific features.
• D)sales through outlets increase and they offer wide product lines and low prices increase.

Understand the principles of jurisdiction, including in personam and in rem jurisdiction.

Grasp the procedural aspects of litigation, including motions, discovery, and summary judgment.

Distinguish between different grounds for federal jurisdiction.

Acknowledge the importance of timely objections to service or jurisdiction.

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Definitions:

Income Summary Account

A temporary account used in accounting to transfer revenues and expenses at the end of an accounting period; its balance is ultimately transferred to retained earnings.

Owner's Capital Account

A line item in a firm's balance sheet that shows the value of the proprietor's invested capital and the accumulated profits retained within the company.

Credited

An accounting entry that increases a liability or equity account, or decreases an asset or expense account.

Permanent Accounts

Accounts in the general ledger that are not closed at the end of the accounting period, including asset, liability, and equity accounts.