A Physiological And/or Psychological Dependency on Products or Services Is

question 99

Multiple Choice

A physiological and/or psychological dependency on products or services is called consumer ________.

• A) psychosis
• B) conditioning
• C) addiction
• D) obsession
• E) gratification

Grasp the concept of trend percentages and common size percentages to analyze financial statements.

Identify and explain the four building blocks of financial statement analysis.

Apply financial ratios to assess market prospects including price earnings ratio and dividend yield.

Explain the purpose of financial statement analysis for both external and internal users.

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Definitions:

GAAP

Stands for Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in any given jurisdiction, including the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements.

Compensated Absences

Employee benefits representing paid time off, such as vacation, sickness, or personal leave, accrued by employees.

Vacation Pay

A benefit offered by employers that compensates employees while they are on leave from work for a vacation.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, which fund both Social Security and Medicare, requiring contributions from both employees and employers.