The Total of the Individual Account Balances in the Accounts

question 138

Multiple Choice

The total of the individual account balances in the accounts receivable master file should equal the

• A) total sales for the period.
• B) balance of the sales account in the general ledger.
• C) total sales less the total cash received for the period.
• D) balance of the accounts receivable account in the general ledger.

---

Definitions:

Form Utility

The value added to goods through a change in form, making them more desirable to consumers.

Marketing Function

A role or operation that relates to promoting, selling, and distributing a product or service, including market research, advertising, and sales.

Ownership Utility

The value or benefit that comes from owning a product or service, above and beyond its functionality or use.

Place Utility

The value added to products by having them available at a location where they are needed or wanted by consumers.