One Benefit of Having Satisfied Customers Is That They May

question 83

True/False

One benefit of having satisfied customers is that they may spread positive word of mouth.

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Definitions:

Liability

A financial obligation or debt that an individual or company owes to another party.

Asset

An economic resource owned or controlled by an entity that is expected to provide future economic benefits.

Income Summary

An account in the ledger that aggregates all the revenues and expenses for the period, used to transfer net income or loss to owner's equity.

Merchandise Inventory

Goods a company holds for the purpose of sale to customers.