Sally Has Recently Opened a Daycare Business

question 151

Multiple Choice

Sally has recently opened a daycare business. She realizes that this shall involve a process of continuous interaction between the daycare, children, and parents. Bearing this in mind, which type of marketing is an important strategy for her?

• A)interactive marketing
• B)relationship marketing
• C)patronage marketing
• D)affiliation marketing

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Definitions:

Current Liabilities

Obligations or debts that a company must pay within a year.

Normal Balance

the side (debit or credit) on which increases to an account are recorded, based on the type of account (asset, liability, equity, revenue, or expense).

Contra-Asset

An account that offsets or reduces the balance of a related asset account, such as accumulated depreciation.

Allowance for Doubtful Accounts

An estimation recorded on financial statements reflecting the amounts expected to be uncollected from accounts receivable.