The Ultimate Objective of Every Firm, Such as IBM, Hewlett-Packard

question 164

Multiple Choice

The ultimate objective of every firm, such as IBM, Hewlett-Packard, JC Penney, and Cengage Learning, must be to

• A)sell either to other firms or to consumers.
• B)satisfy the needs of its customers.
• C)pay out money to cover the various expenses of doing business.
• D)know that people generally buy a product and store it.
• E)make it impossible to satisfy customers.

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Definitions:

Loan Available

The amount of money that a lender is willing to provide to a borrower under agreed conditions.

Life Policy

An insurance agreement that provides financial compensation to a designated beneficiary upon the insured individual’s death.

Insured

A person, organization, or entity covered under an insurance policy, protecting them against specific risks or losses.

Quarterly Premiums

Insurance payments made every three months to maintain coverage, often used in health, life, and property insurance policies.