In Contrast to Industrial Products, Consumer Products Are Often Purchased

question 51

Multiple Choice

In contrast to industrial products, consumer products are often purchased because of

• A) economic planning.
• B) necessity.
• C) prior planning.
• D) social influences.
• E) rational needs.

---

Definitions:

Liabilities

Financial obligations or debts owed by a company to external parties, creditors, or suppliers that must be settled over time.

Shareholders' Equity

The residual interest in the assets of a company after subtracting liabilities, representing ownership equity.

Total Assets

The sum of all current and noncurrent assets owned by a company, reflecting its overall value.

Retained Earnings

The portion of a company's net income that is held or retained for reinvestment in the business or to pay debt, rather than being paid out as dividends.