What Is a Feature of a Product or Service That

question 286

Multiple Choice

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

• A)significant barrier
• B)entry barrier
• C)product differentiation
• D)entry chain

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Definitions:

Work Sheet

A paper or electronic document used by accountants to compile and analyze financial information prior to preparing financial statements.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating expenses.

Income Summary

An account used in the closing process that summarizes revenues and expenses for a specific period, facilitating the transfer of their net effect to capital or owner's equity.

Closing Entries

At the close of an accounting cycle, transactions are documented to move amounts from temporary accounts to those that are permanent.