Which of the Following Is True of Brokers

question 142

Multiple Choice

Which of the following is true of brokers?

• A) Brokers represent buyers or sellers on a semipermanent basis.
• B) Most brokers are small businesses with a few skilled salespeople.
• C) Brokers bring buyers and sellers together and assist in negotiation.
• D) Selling brokers have contractual authority to sell a manufacturer's entire output.
• E) Purchasing brokers make purchases for buyers and often receive, inspect, warehouse, and ship merchandise.

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Definitions:

Expense

An outflow of cash or other valuable assets from a person or company to another entity in exchange for goods or services.

Expenses

Costs incurred during business operations to generate revenue, which may include rent, salaries, and materials.

Generate Revenues

The process of earning income through the sale of goods or services provided by a business.

Obligations

Obligations are responsibilities or legal commitments that arise from contracts, laws, or financial agreements, requiring entities to settle debts or perform specific actions.