While It Is Important to Provide an Explanation in a Negative

question 63

True/False

While it is important to provide an explanation in a negative news message,one must never admit or imply responsibility without written authorization from the company cleared by legal counsel.

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Definitions:

Merchandising Business

A type of business that purchases goods and resells them to consumers without changing their form, primarily making profit through the retail or wholesale of products.

Service Business

A business that provides intangible products or services to customers rather than physical goods.

Closing Entries

The entries that transfer the balances of the revenue, expense, and drawing accounts to the owner’s capital account.

Ratio of Sales

A financial metric used to analyze a company's performance, efficiency, or market position, calculated by comparing sales figures to various other components.