Studies Have Shown That About 27 Percent of Consumers Can

question 160

True/False

Studies have shown that about 27 percent of consumers can be classified as first adopters. They are the people who are willing to try new and unproven products. The remaining consumers tend to take a wait-and-see attitude before they will buy the product.

---

Definitions:

Control Accounts

General Ledger accounts that summarize the balances of numerous subsidiary accounts, used to consolidate and reconcile details.

Computerized Accounting System

An accounting system that utilizes software to record, store, and process financial transactions and data.

Month-end Postings

The journal entries made at the end of the month to record all transactions and adjustments for that month.

Financial Year

A period of twelve months used for accounting purposes and the preparation of financial statements, not necessarily aligning with the calendar year.