To Define the Business for the Mission Statement, Managers Must

question 47

Multiple Choice

To define the business for the mission statement, managers must ask three questions:

• A)Who are our competitors? Where should we locate? What customer needs are being satisfied?
• B)Who are our customers? Where should we locate? What customer needs are being satisfied?
• C)Who are our customers? What customer needs are being satisfied? What customer needs are not being satisfied?
• D)Who are our customers? Where should we locate? What customer needs are not being satisfied?
• E)Who are our customers? What customer needs are being satisfied? How are we satisfying customer needs?

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Definitions:

Free On Board

Free On Board (FOB) is a term used in international trade that indicates whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping.

Journalize

Journalize is the act of recording business transactions in the accounting journals as part of the double-entry bookkeeping system, detailing debits and credits.

Journalize

The act of recording business transactions in the journal as part of the accounting process.

Merchandise Sold

Products that have been sold by a company, typically referring to goods rather than services.