A Product Line Refers to

question 279

Multiple Choice

A product line refers to

• A)a product and all its ancillary services (warranties,financing,etc. ).
• B)the variations within a product class.
• C)a specific product SKU that has a unique brand,size,or price.
• D)a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range.
• E)the entire product category or industry.

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Definitions:

Convergence

In financial and accounting terminology, convergence refers to the growing harmonization of International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (GAAP), aiming to create a single set of global standards.

Initiatives

Specific actions or strategies undertaken by an organization to achieve particular objectives.

Accounting Standards

Guidelines and principles designed to improve the transparency and consistency of financial reporting and accounting practices.

Managerial Accounting

The process of identifying, measuring, analyzing, and communicating financial information to managers for the pursuit of an organization's goals.