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Factors Are Required for Marketing to Occur: (1)two or More

question 126

Multiple Choice

factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) __________.


Definitions:

Unearned Interest Revenue-Leases

Revenue recognized from leasing transactions which has been collected but not yet earned, typically because the service period has not been completed.

Sales-type Lease

A lease agreement in which the lessor effectively transfers ownership and all risks and rewards of the asset to the lessee, resulting in immediate profit recognition.

Guaranteed Residual Value

The pre-determined value at which a leased asset is guaranteed to be worth at the end of the lease term, important for lease agreements.

Contingent Rentals

Lease payments that are not fixed but are instead based on the occurrence of a certain event or situation.

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