_______ Are Characteristics of a Product or Service That the Target

question 20

Multiple Choice

_______ are characteristics of a product or service that the target customer would consider worthwhile,such as low cost or high quality.

• A) Cost benefits
• B) Value benefits
• C) Benefits
• D) Value propositions

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Definitions:

Posting Closing Entries

The process of transferring the balances of temporary accounts to permanent accounts at the end of an accounting period to prepare the books for the next period.

Financial Statements

Reports that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.

Real Accounts

Also known as permanent accounts, these include assets, liabilities, and equity accounts which are not closed at the end of the accounting period and their balances are carried forward.

Owner's Capital

The total value of all assets contributed by the owner to a business minus any withdrawals, representing the owner's equity in the company.