According to the Evolution of the Marketing Process, When the Only

question 3

Multiple Choice

According to the evolution of the marketing process, when the only marketing functions performed are demand creation, physical distribution, and market information analysis, the marketing process is in the _____ substage.

• A) mass production
• B) commercial-transition
• C) self-sufficient
• D) surplus commodity product
• E) small scale

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Prepayments

Payments made in advance for goods or services, which are recorded as assets on the balance sheet until the corresponding goods or services are received.

Unearned Revenue

Money received by an entity for a service or product yet to be delivered or performed.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period before financial statements are prepared.