Which of the Following Is True

question 128

Multiple Choice

Which of the following is true?

• A)The Product "P" in the marketing mix stands only for physical goods.
• B)The Product "P" in the marketing mix stands for both physical goods and services.
• C)The Product "P" in the marketing mix stands only for tangible merchandise.
• D)The Product "P" in the marketing mix stands only for physical merchandise.
• E)The Product "P" in the marketing mix stands strictly for physical goods and tangible merchandise.

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Definitions:

Merchandise Inventory

Goods that a retailer or wholesaler purchases to sell to customers, held as an asset on the balance sheet.

Work in Process

Refers to partially finished goods that are still in the production process at the end of an accounting period.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, often used in calculating the cost of inventory or the average cost of capital.

Unit Cost

The cost incurred to produce, purchase, or acquire a single unit of a product or service.