Which of the Following Is Correct When Describing the Meaning

question 30

Multiple Choice

Which of the following is correct when describing the meaning of the acronym FAB

• A) the features and basic attributes
• B) the features and basic benefits
• C) the features, actual attributes, and benefits
• D) the features, advantages, and benefits of a product
• E) none of these choices are correct

---

Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales activity, such as rent or salaries.

Work in Process-Department X

Inventory representing partially completed goods that are still in the production process within a specific department.

Goods in Process

Inventory items that are partially completed in the production process.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest of the business owners.