What Is a Primary Difference Between Business and Consumer Buyers

question 60

Multiple Choice

What is a primary difference between business and consumer buyers?

• A) Consumer buyers require more product information than business buyers.
• B) Business purchases are made by one individual whereas families make consumer purchases together.
• C) Repeat sales are more common with consumer buyers than business buyers.
• D) Consumers primarily buy inexpensive items; businesses only buy expensive items.
• E) Business buyers generally make larger orders than consumer buyers.

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Definitions:

Insurance Premium

A periodic payment made by an individual or company to an insurance company in exchange for coverage against specified risks.

Office Supplies

Office supplies encompass a range of items used in an office for the purpose of conducting day-to-day operations, including stationery, paper, pens, and computing equipment.

Journal Entries

The records of financial transactions in an accounting system that detail the accounts affected and in what manner, serving as the primary means to document financial activity.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile the financial statements.