The Added Value a Brand Name Gives to a Product

question 67

Multiple Choice

The added value a brand name gives to a product beyond the functional benefits provided is referred to as

• A) brand cachet.
• B) brand net worth.
• C) brand equity.
• D) brand benefit.
• E) brand enhancement.

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Definitions:

Prior Period Adjustments

Corrections made to a company's financial statements for errors or omissions in previously reported periods.

Revaluation Surplus

The increase in value of an asset, reflected in the company's financial statements, from re-assessing its carrying value to a higher current market value.

Treasury Stock

Shares that were issued and then repurchased by the issuing company, reducing the amount of outstanding stock on the open market.

Classification

The systematic arrangement of business transactions and accounts in categories or groups based on similar characteristics for financial reporting and analysis.