With Respect to Product Descriptors, the Product's __________ Communicate(s) How

question 2

Multiple Choice

With respect to product descriptors, the product's __________ communicate(s) how the product behaves, hopefully in a fashion that is distinctive and appealing to customers.

• A) features
• B) benefits
• C) image
• D) position
• E) advantages

---

Definitions:

AASB 15

An Australian Accounting Standards Board standard on revenue from contracts with customers, specifying how and when to recognize revenue and the related costs.

IFRS 15

The International Financial Reporting Standard that specifies how and when to recognize revenue from contracts with customers, setting requirements for the disclosure of revenue information.

Contracts

Legally binding agreements between two or more parties that outline terms, conditions, and obligations of each party.

Conceptual Framework

A theoretical structure that outlines the objectives and fundamentals of financial reporting to guide the development of accounting standards.