Zing is a soft drink which is available everywhere, including gas stations, department stores, and vending machines. Zing is an example of a(n) _____
a. unsought product
b. specialty product
c. convenience product
d. shopping product
ANSWER: c
Zing is an example of a convenience product. A convenience product is a relatively inexpensive item that merits little shopping effort. Convenience products normally require wide distribution in order to sell sufficient quantities to meet profit goals.
You might also like to view...
The GASB provides optional guidance for those entities providing service efforts and accomplishments (SEA) reports to the public.
Answer the following statement true (T) or false (F)
Administrative costs are indirect costs.
Answer the following statement true (T) or false (F)
What is the difference between a current refunding and advance refunding?
What will be an ideal response?
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 3,920 | |
| Sales discounts | 80 | |
| Accounts receivable | 4,000 |
B.
| Cash | 5,800 | |
| Accounts receivable | 5,800 |
C.
| Cash | 5,684 | |
| Sales discounts | 116 | |
| Accounts receivable | 5,800 |
D.
| Cash | 4,000 | |
| Accounts receivable | 4,000 |
E.
| Cash | 5,684 | |
| Accounts receivable | 5,684 |