Renfro's,Inc

question 276

Multiple Choice

Renfro's,Inc. ,is a company that sells 25 different relishes in 45 different states.Mrs.Renfro's chipotle corn salsa is so popular that the company cannot make enough to keep its resellers stocked.Its price of $4.50 for a jar seems just right to consumers who savor its hot and spicy taste.The popularity of hot and spicy food is an example of a __________ that Mrs.Renfro's has taken advantage of to make its product a success.

• A)barter factor
• B)demand factor
• C)supply factor
• D)consumer index
• E)macroeconomic environmental factor

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Definitions:

Suppliers

Entities or individuals that provide goods or services to another entity, typically in a commercial transaction.

Income Tax Expense

The amount of money a company owes in taxes based on its taxable income for a given period.

Income Taxes Payable

Represents the amount of taxes on income that a company owes to the government but has not yet paid.

Accounts Payable

Short-term financial obligations to suppliers or creditors for goods and services received but not yet paid for.