Which of the Following Is the First Step in Setting

question 18

Multiple Choice

Which of the following is the first step in setting a pricing policy?

• A) selecting a pricing method
• B) selecting the pricing objective
• C) determining demand
• D) estimating cost
• E) analyzing competitors' costs, prices, and offers

---

Definitions:

Receivables Balance

The cumulative sum of funds due to a business from its clients for products or services provided on a credit basis.

Accounts Receivable Period

The typical duration in days that a company requires to receive payment following a sale.

Sales

The activities involved in selling goods or services directly to consumers or end-users.