Payments from customers received before performing services for the customers are recorded as
A) expenses.
B) liabilities.
C) equity.
D) dividends.
E) revenues.
Ans: B) liabilities.
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Identify a shortcoming of giving the responsibility of new product development to the product managers of a company
A) They would not be familiar with the industry standards. B) Product managers would not have an operational focus. C) Product managers are often busy managing existing lines. D) They will find it difficult to gain support from employees. E) Product managers are less likely to use participative management.
When writing descriptions and process analyses, you should
A) Preface your text with a title that states the topic. B) Explain the product's functions or capabilities in an introduction. C) Avoid using graphics. D) All of the above. E) A and B.