The First Step of the Business Buying Process Is ________

question 62

Multiple Choice

The first step of the business buying process is ________.

• A) general needs description
• B) product specification
• C) problem recognition
• D) order-routine specification
• E) performance review

---

Definitions:

Assets

Resources owned by a business or individual that have economic value and can be used to meet debts or commitments.

Liabilities

Financial obligations or debts owed by a business to external parties or entities, which must be settled over time through the transfer of economic benefits.

Revenue

The total amount of money received by a company from its business activities, such as selling goods or services, before any expenses are subtracted.

Debit Balance

Refers to the balance remaining in a financial account where debts or expenses exceed the credits or revenues.