A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.
<h3>What is a group of products that are closely related?</h3>
- A collection of related products is referred to as a product line.
<h3>What is a group of products called?</h3>
- A group of related products made by the same company and sold under the same brand is referred to as a product family.
- A business may develop a product family to capitalize on the devoted following of its original brand.
<h3>What is product group?</h3>
- A set of departments, classes, subclasses, or things that are gathered together for a specific objective is known as a product group.
- SIM employs product groups for the following purposes to plan and carry out various stock count procedures (Problem Line, Unit, and Unit and Amount product groups).
<h3>What is product and types of product?</h3>
- Consumer products and industrial products are the two primary categories into which items are divided.
- Consumer goods are those that the final consumer buys for personal use.
- The customer buys these consumer goods to fulfill his own wants and requirements.
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Answer:
Free choice
Explanation:
There are three domains of human action that is codified law, domain of ethics and domain of free choice. Under the domain of free choice, people enjoy complete freedom and are not governed by written down regulations or rules. People are governed by their own personal standards under the domain of free choice.
Answer:
An Accrued Receivable transaction
Explanation:
Before the receipt of cash recording a revenue is the example of accrued receivable because product is sold or services are already been performed on which basis transaction is occurred and recorded. So, the receivable is recorded against the revenue entry.
The journal Entry for this transaction will be as follow
DR. Account receivable xxx
CR. Revenue xxx
In order to do that, you just have to need to multiply it with the quantity that align with the marginal cost with the total firms.
Assume that the quantity with the price of $ 2.00 is 200 Units, the level of output would be :
200 x 200 = 40,000 Units
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