Buy Classes Refer to the Three Types of Organizational Buying

question 146

Multiple Choice

Buy classes refer to the three types of organizational buying situations:

• A) buy, lease, and rent.
• B) new buy, make, and reprocess.
• C) manufacturing contracts, consulting contracts, service contracts.
• D) new buy, straight rebuy, and modified rebuy.
• E) new buy, refurbish, and used buy.

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Definitions:

Credit Balance

A situation where the total credits in an account exceed the total debits, common in liability and revenue accounts.

Income Tax Instalment

Payments made to tax authorities in installments rather than a lump sum, typically for estimated taxes.

Age

The length of time that a person or entity has been alive or in existence.

Death

The cessation of all biological functions that sustain a living organism.