At the Most Fundamental Level, Why Does a Consumer Buy

question 52

Multiple Choice

At the most fundamental level, why does a consumer buy a product?

• A) to obtain status
• B) to obtain its core benefit
• C) to obtain its implicit benefit
• D) to obtain a lifestyle enhancement

---

Definitions:

Post-Closing Trial Balance

A financial report created after closing entries are made, listing all the account balances to ensure that debits equal credits.

Temporary Accounts

Temporary Accounts are categories in accounting that are used to track financial transactions for a specific period, being reset or closed at the end of the fiscal year.

Income Summary

A temporary account used in accounting to aggregate all income and expense accounts for a period, facilitating the transfer of their balances to permanent equity accounts.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts and prepare the company's books for the next period.