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While setting the price of a product,what must managers consider?
Debit Portion
The side of an accounting entry that increases asset or expense accounts or decreases liability, equity, or revenue accounts.
Asset Account
A category in accounting ledgers that records the increases and decreases in specific assets owned by a business.
Liability Account
An account on a company's balance sheet representing debts or obligations that the company owes to others.
Revenue Recognition Principle
An accounting principle that dictates the conditions under which revenue is recognized and recorded, usually when it is earned and realizable.
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