What Should Be Avoided When Granting Claims and Requests for Adjustment

question 28

Multiple Choice

What should be avoided when granting claims and requests for adjustment when your company is at fault?

• A)Blaming anyone in the organization by name
• B)Going into the details of how you plan to resolve the situation
• C)Starting with the assumption that the information the customer provided is correct
• D)Openly sympathize with the customer's situation
• E)Take or assign personal responsibility for setting matters straight

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Definitions:

Productive Investment Projects

Initiatives undertaken by businesses or individuals that are expected to yield a return by increasing output or efficiency.

Uncertain Returns

The unpredictability associated with the outcome of an investment or the potential return on an investment.

Economic Profit

The difference between a firm’s total revenues and its total costs, including both explicit and implicit costs, reflecting the true profitability of the firm.

Accounting Profit

The financial gain calculated by subtracting total explicit costs from total revenue.