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:

SOX-Type Standards

Regulatory standards similar to the Sarbanes-Oxley Act (SOX), aimed at improving the accuracy and reliability of corporate disclosures and the protection against corporate and accounting fraud.

Cost-Benefit Analysis

A process used to evaluate the total expected cost of a project compared to its expected benefits, in order to determine its feasibility or profitability.

International Companies

Businesses that operate across national borders, engaging in international trade or services.

U.S. Standards

Refers to the guidelines, principles, and procedures established in the United States for various activities, including accounting, manufacturing, and other industries.