Gigi Smith Wanted to Buy a New Car

question 277

Multiple Choice

Gigi Smith wanted to buy a new car.She visited several dealers to compare prices,styles,and dealer reputations.Finally,she bought a car from a local dealer.The purchase of a car is an example of a

• A) convenience product.
• B) specialty product.
• C) business product.
• D) shopping product.
• E) major equipment item.

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Definitions:

Owners' Initial Investment

The initial amount of money or resources contributed by the owners to start a business.

Profits

The profit made when the money earned from business operations is more than the expenses, costs, and taxes needed to maintain the operations.

Open Book Management

Practice of sharing financial information with employees and teaching them how to understand and use financial statements.

Financial Information

Data regarding the financial performance and position of an individual or entity, including statements, reports, budgets, and financial indicators.