Although There Are Many Differences Between Business Buying Behavior and Consumer

question 9

Multiple Choice

Although there are many differences between business buying behavior and consumer buying behavior,both respond to the same four stimuli: product,price,promotion,and .

• A)personal relationships
• B)precision
• C)publicity
• D)place
• E)packaging

---

Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards providing a global framework for how public companies prepare financial statements.

Ownership Of Goods

The legal right or title to possess and use goods, typically transferring from seller to buyer upon payment.

Specific Identification

An inventory valuation method that tracks the cost of individual items or batches of items throughout the purchasing and sales process.

FIFO Method

A method of inventory costing that assumes the first goods purchased are the first goods sold, affecting the cost of goods sold and ending inventory valuation.