Which of the Following Best Describes CRM

question 21

Multiple Choice

Which of the following best describes CRM?

• A)Certificate for Record Management; awarded by the MRA after passing certain record-keeping requirements
• B)Customer Relationship Management; the use of internal databases to strengthen customer relationships
• C)Certified Record Manager; awarded by the MRA for successfully passing a series of courses related to database management
• D)Customer Recognition Managers; used to identify customers from non-customers primarily in airports for purposes of security
• E)none of the above; there is no such thing as CRM

Understand various business forms and their characteristics.

Grasp the concept of liability and protection in different business structures.

Evaluate the implications of profit-sharing arrangements on partnership status.

Understand the characteristics of a partnership as an entity according to the RUPA.

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Definitions:

Shortage

An instance where the desire for a good or service outstrips its availability at a given price.

Price Floor

A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.

Price Ceiling

A legally established maximum price that can be charged for a good or service, usually set by the government.

Shortage

An instance where there is more demand for a product or service than what is available in the market.