Identifying Business Activities Requires Selecting Transactions and Events Relevant to an Organization.Which

question 175

Multiple Choice

Identifying business activities requires selecting transactions and events relevant to an organization.Which of the following events would be recorded in the accounting records of Acme Car Wash?

• A)Acme washes 500 cars.
• B)J.B.Smith,a customer,buys lunch at the restaurant next door to Acme while waiting for her car to be washed.
• C)Clean Company,a supplier,sells 50 pounds of soap to ABC Company.
• D)Sudsey Company,a supplier,goes out of business.
• E)Acme hires Andrea as a receptionist.

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Definitions:

Competitive Advantages

Factors that enable a company to perform better than its rivals in the market, such as superior quality, low cost of production, or exclusive access to resources.

Marketing Mix

The blend of marketing tools that a company uses to pursue its marketing objectives in the target market, traditionally identified as product, price, place, and promotion.

Defensible Position

A competitive advantage or market position that a company can maintain and defend against competitors.

Customer Loyalty

A measure of a customer's willingness to continue buying from or patronizing a brand or company over time.