A Group That Has the Willingness, Ability and Authority to Buy

question 60

Multiple Choice

A group that has the willingness, ability and authority to buy a product is a:

• A)market.
• B)consumer.
• C)strategic business unit.
• D)business customer.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting rules followed by companies across the globe for maintaining their financial statements.

Indirect Method

A method used in cash flow statements to adjust net income for the changes in non-cash accounts to arrive at operating cash flows.

Net Income

The total profit or earnings of a company after all expenses and taxes have been deducted from revenues.