Businesses That Strive to Determine What Customers Need or Want

question 58

Multiple Choice

Businesses that strive to determine what customers need or want and then develop products to satisfy those needs and wants are operating in a(n) ____ orientation.

• A)production
• B)disruptive
• C)sales
• D)evolutionary
• E)market

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Definitions:

Wages Expense

Costs incurred by a company for the payment of wages to its employees, typically reported on the income statement.

Explanation

A statement or account that makes something clear or understandable, often used to provide reasoning or details.

Unearned Consulting Fees

Money received for consulting services that have not yet been provided, representing a liability until the service is performed.

Normal Balance

The side (debit or credit) of an account that is typically increased, reflecting a fundamental principle in accounting.