Which of the Following Statements Is True About Products and Product

question 37

Multiple Choice

Which of the following statements is true about products and product knowledge?

• A)Without understanding a company's history an employee cannot understand that company's product.
• B)Product knowledge is not as important as selling technique for a professional salesperson.
• C)Knowledge of one's product or service is not important in all areas of professional selling.
• D)Complexity and variety of products available and the increasing number of new products complicate the buying process.
• E)Salespeople who learn and impart too much product knowledge slow the buying process down.

---

Definitions:

First-In, First-Out Method

An inventory valuation method where the oldest inventory items are recorded as sold first, leaving the most recently purchased items in inventory.

Conversion Cost

The combined cost of direct labor and manufacturing overheads incurred to convert raw materials into finished goods.

Equivalent Units

Definition: A concept in cost accounting, equivalent units measure the amount of work done on partially finished goods, expressed in terms of fully completed units.

Direct Materials

Raw materials that can be directly attributed to the production process of a good or service and are an integral part of the finished product.