Product Line Refers to

question 156

Multiple Choice

Product line refers to

• A)a product and all its ancillary services (warranties, financing, etc.).
• B)the variations within a product class.
• C)a specific product SKU that has a unique brand, size, or price.
• D)a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.
• E)the entire product category or industry.

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Definitions:

Note Receivable

A financial asset representing a written promise to receive a specific amount of money at a future date or dates.

Journal Form

The format or layout used for recording transactions in the accounting journal.

Dishonored

Used to describe a check or promissory note that has been presented for payment but is refused by the bank due to insufficient funds or other reasons.

Settlement

The process of concluding a transaction or an agreement by completing all procedural and payment aspects.