Figure 14-1 Above Represents the Six Steps in Setting Price

question 378

Multiple Choice

Figure 14-1 above represents the six steps in setting price.Which letter represents the step where a firm would consider a fixed price or a dynamic pricing policy,company and competitive effects,and incremental costs and revenues?

• A)"B"
• B)"C"
• C)"D"
• D)"E"
• E)"F"

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer's accounting records but have not yet been cashed or deposited by the payee.

Petty Cash

A modest sum of money maintained in reserve for small, unplanned costs.

Journal Entry

A record in the accounting journal that represents a transaction and shows the debits and credits to various accounts.

Petty Cash Account

A small fund kept on hand for minor, incidental expenses.