The First Step in a Purchase Decision in the Hierarchy

question 107

Multiple Choice

The first step in a purchase decision in the hierarchy of effects model is:

• A)awareness.
• B)liking.
• C)preference.
• D)conviction.

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Definitions:

Credit Period

The duration of time that a buyer is given by a seller to pay for goods or services received.

Sales Tax

A tax levied by governments on the sale of goods and services, collected by the retailer at the point of purchase.

General Journal Entries

The records of financial transactions in the general journal, noting debits and credits along with a description of each transaction.

Terms of Sale

The conditions under which a seller will complete a sale, typically detailing payment terms, delivery times, and warranties.