Channels of Distribution ________

question 113

Multiple Choice

Channels of distribution ________.

• A)do not create any kind of utility
• B)do not create time or place utility
• C)create promotion,product,and place utility
• D)create time,place,ownership,and form utility
• E)create time,place,and ownership utility

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Definitions:

Closing Process

The accounting procedures used to close out business accounts at the end of an accounting period.

Income Summary Account

A temporary ledger account used during the closing process that accumulates revenues and expenses before transferring the net amount to the capital or retained earnings account.

Net Income

The sum of money a company retains as profit after all financial obligations and taxes are deducted from its total income.

Credit Balance

An accounting term indicating that the total credits in an account exceed the total debits, often signifying a financial obligation owed to the account holder.