Provide a Definition of Each of the Following Accounting Terms

question 166

Essay

Provide a definition of each of the following accounting terms.
$$\begin{array} { | l | l | } \hline \text { Accounting Term } & \text { Definition } \\\hline \text { Chart of accounts } & \\\hline \text { Posting } & \\\hline \text { Normal balance } & \\\hline\end{array}$$

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Definitions:

Brand Extension

A marketing strategy in which a firm uses an established brand name to introduce new products or services in a different category.

Line Extension

A marketing strategy where a company introduces additional items in the same product category under the same brand name, such as new flavors, sizes, or other variations.

Brand Dilution

The weakening of a brand's power and value due to overuse, overextension, or ineffective marketing strategies, leading to a loss of brand exclusivity and consumer confusion.

Low-calorie Chip

A snack food designed with reduced caloric content compared to traditional chips, often through alternative ingredients or cooking methods.