Convenience Products Refer to

question 46

Multiple Choice

Convenience products refer to

• A)items that consumers will make special efforts to seek out and buy.
• B)items for which consumers compare several alternatives on criteria such as price,quality,or style.
• C)products consumers purchase frequently and with a minimum of shopping effort.
• D)ancillary products used to make other products work more efficiently.
• E)low-cost items for which there are numerous substitutes and generic equivalents.

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Definitions:

Cash Budget

An estimation of cash inflows and outflows for a business or individual for a specific period.

Credit Sales

Sales made on terms that allow the buyer to pay the seller at a later date, typically recorded as accounts receivable.

Cash Collections

The process of receiving and managing payments from customers for goods or services provided.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.