Business Firms Pursue Several Different Types of Goals

question 217

Multiple Choice

Business firms pursue several different types of goals.A(n) __________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

• A)customer satisfaction
• B)shareholder
• C)profit minimization
• D)social responsibility
• E)employee welfare

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Definitions:

Raw Logs

Unprocessed timber that has been cut but not yet transformed into lumber or other finished products.

Least Liquid

Assets that are hardest to convert into cash without significant loss in value.

Credit Period

The duration of time the buyer is allowed to pay for a purchase after the sale has been made, without incurring any interest.

High-priced Item

An item or asset that has a high cost or value, often relative to similar items in the market.