The Actions a Person Takes in Purchasing and Using Products

question 339

Multiple Choice

The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, are referred to as

• A) purchase intentions.
• B) market research.
• C) consumer behavior.
• D) consumer conduct.
• E) purchase protocols.

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Definitions:

Retained Earnings

The portion of a company's profits that is held or retained and saved for future use, investments, or to pay debt, rather than distributed to shareholders as dividends.

Adjusted Trial Balance

A statement listing all accounts and their final balances after adjusting entries are made, used to prepare financial statements.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones.

Retained Earnings Account

An equity account that represents the accumulated portion of net income that a company retains after distributing dividends to shareholders.