Many Services Base Their Success on Building a Group of Satisfied

question 184

Multiple Choice

Many services base their success on building a group of satisfied customers who use their services on a regular basis over long periods of time. This critical component of success is referred to as

• A) partnerships.
• B) repeated customer contact.
• C) inseparable clientele.
• D) long-term customers.
• E) client-based relationships.

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Definitions:

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is actually received or paid out, as opposed to when they are incurred.

Cost Of Goods Sold

Expenses directly linked to creating products sold by a business, which include labor and materials.

Cash Paid

Cash paid encompasses any outflow of cash from a company or individual for various purposes, including expenses, acquisitions, or investments.

Suppliers

Entities that provide goods or services to another entity, typically a company, under terms outlined in a contract or agreement.