Consumers Look Closely at Service Quality When Comparing Competing Services

question 21

Multiple Choice

Consumers look closely at service quality when comparing competing services because

• A) they perceive all services to be essentially the same.
• B) they typically have very few services from which to select.
• C) all services are priced about the same.
• D) quality is the only relevant service characteristic.
• E) services are very difficult to evaluate.

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Definitions:

Cost Concept

An accounting principle that states all assets and services purchased by a company should be recorded at their cost price.

Market Value

The present rate at which a service or asset may be purchased or sold in the market.

Accounting Records

Documents and books that keep systematic financial data and transactions of a person, company, or entity.

Ethical Lapses

Instances where individuals or organizations fail to act in accordance with their moral or ethical standards.