When a Business Makes a Sale on Account, the Asset

question 106

Multiple Choice

When a business makes a sale on account, the asset created is a(n) :

• A)revenue.
• B)expense.
• C)account receivable.
• D)account payable.

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Definitions:

Differentiation Strategy

A competitive strategy where a business seeks to distinguish its products or services from competitors through unique features.

Veggie Burger

A vegetarian burger made from a variety of ingredients such as beans, lentils, soy, or vegetables, designed to mimic the taste and texture of a meat burger.

Fast-Food Restaurants

Quick service eateries that specialize in serving food rapidly to customers, typically featuring limited menus and drive-thru service.

Large Market

A significant and extensive segment of the economy with a large number of consumers or businesses that demand goods and services.