All of the Following Statements About the Purchase Involved in Organizational

question 1

Multiple Choice

All of the following statements about the purchase involved in organizational buying are true except which?

• A) The length of time required to arrive at a purchase agreement can vary with size of purchase.
• B) The dollar value of a single purchase made by an organization often runs into thousands or millions of dollars.
• C) The size of purchase impacts who participates in the purchase decision.
• D) The size of purchase impacts who makes the final decision.
• E) The size of the purchase is typically smaller than it is in consumer buying but it is done more frequently.

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Definitions:

Business Organization

A legal entity formed to carry out commercial or industrial enterprises by engaging in trading, manufacturing, or providing services.

Financial Manager

A professional responsible for managing the financial health of an organization by overseeing investment activities and planning for the long-term financial strategy.

Corporation

A legal entity that is separate and distinct from its owners, which can own assets, incur liabilities, and conduct business.

Financial Manager

A person responsible for managing an organization’s financial activities, including planning, investments, and managing financial resources.