_______________________ Are the Two Major Types of Advertising

question 64

Multiple Choice

_______________________ are the two major types of advertising.

• A)Inform and persuade
• B)Product and price
• C)Institutional and product
• D)Humor and fantasy
• E)Moral and product

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Definitions:

Recognition

In accounting, recognition refers to the formal recording of an item in the financial statements, acknowledging its existence and the fact that it meets the criteria for financial reporting.

Revenue

Income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Deferral

A deferral occurs when cash related to a future revenue or expense has been initially recorded as a liability or an asset.

Unearned Revenue

Money received by a business for goods or services that have yet to be delivered or performed.