A Product Line Is a Group of Product or Service

question 22

Multiple Choice

A product line is a group of product or service items that are closely related because they satisfy a class of needs,are used together,__________,are distributed through the same type of outlets,or fall within a given price range.

• A)are made of similar components
• B)require high levels of R&D
• C)are sold to the same customer group
• D)made from the same formulations
• E)have one SKU number

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Definitions:

Credit Sales

Credit sales are transactions where the customer purchases goods or services with an agreement to pay at a later date.

Cash Budget

A cash budget is a financial plan that estimates cash inflows and outflows over a specific period of time.

Housekeeping Budget

A financial plan allocating funds to maintain cleanliness, equipment, and supplies for housekeeping operations within an organization.

Occupied Rooms

In the context of hotel management, the number of rooms that are currently being used by guests.