Which One of the Following Statements Concerning the Marketing Concept

question 6

Multiple Choice

Which one of the following statements concerning the marketing concept is INCORRECT?

• A) It refers to a companywide customer focus
• B) Its goal is long-term success
• C) It can best be explained by the shift from a buyer's market to a seller's market
• D) It reflects the fact that companies are now forced to satisfy customers rather than just producing and selling goods and services

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Definitions:

Noncash Assets

Assets owned by a business or individual that are not in the form of cash but can be converted into cash within a year, such as inventory, bonds, or property.

Capital Account

An account showing the net worth of a business, influenced by owner's contributions, withdrawals, and the business's earnings or losses.

Partners' Equity

The interest or claim that partners have in the assets of a business, equal to the total assets minus liabilities and other equities.

Equity

The amount of money that would be returned to shareholders if all of the assets were liquidated and all of the company's debt was paid off.