The Second Step in the Cycle of Satisfaction Is to Take

question 53

Multiple Choice

The second step in the cycle of satisfaction is to take the product from idea to ________.

• A) customer
• B) production
• C) end
• D) market

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Definitions:

Provision

An amount set aside for anticipated future liabilities or losses in the financial statements of a company.

Termination Payments

Payments made to employees when they leave a company, which can include severance pay, unused vacation pay, and other compensations.

Short-Term Employee Benefit

consists of benefits, such as salaries, wages, social security contributions, and paid annual leave, provided to employees that are expected to be settled within twelve months after the employee provides the related service.

Defined Contribution Fund

A retirement plan in which the employee and/or the employer contribute to an individual account for the employee, with the future benefit depending on the contributions made and the investment performance of the account.