Is the Sum of All the Values That Customers Exchange

question 99

Multiple Choice

is the sum of all the values that customers exchange for the benefits of having or using a product or service.

• A) Salary
• B) Profit
• C) Cost
• D) Payroll
• E) Price

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Definitions:

Incidental Beneficiary

A third party who unintentionally benefits from a contract but has no legal right to enforce the contract terms.

Intended Beneficiary

A person for whom a contract is specifically made, who has the right to enforce the terms of the contract, even though they are not a party to it.

Promisee

An individual or entity to whom a promise or commitment is made.

Delegate Duty

The act of assigning one's responsibilities or tasks to another person, typically to someone subordinate.