If We Accept "Consumer Satisfaction" as the Objective of Our

question 189

Multiple Choice

If we accept "consumer satisfaction" as the objective of our MACRO-marketing system, this means that:

• A) each consumer should decide how best to satisfy his or her own wants.
• B) government planners should choose the kinds of products to be produced.
• C) "home economists" will be the best judges of what should be produced.
• D) not every consumer should be allowed to decide his or her own wants.
• E) consumer educators should choose what products should be produced.

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Definitions:

Control Account

An account in the general ledger that summarizes and checks the accuracy of individual records in subsidiary ledgers.

General Ledger

A comprehensive set of accounts that records all transactions of a business, providing the foundation for financial statements.

General Ledger

The main accounting record of a company which uses double-entry bookkeeping, consisting of all balance sheet and income statement accounts.

Sales Journal

A specific type of journal used to record the sales of goods or services on credit.