Explain the Following Terms in Your Own Words and Give

question 166

Essay

Explain the following terms in your own words and give an example of each for Humpty's Equipment Inc.
a.asset
b.liability
c.shareholders' equity
d.dividend
e.revenue
f.expense

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Definitions:

Sequential Series

A sequence of events or items arranged in a consecutive order.

Purchase Satisfaction

Gratification based on a product that supplies expected, or greater than expected, benefits.

Endless Chain Referral

A method in sales where a customer is asked to provide the names of other potential customers, creating a "chain" of referrals that can potentially lead to endless opportunities.

Prospecting

The process of searching for potential customers or clients to generate new business opportunities.