Which of the Following Actions Would an Organization Take If

question 56

Multiple Choice

Which of the following actions would an organization take if it decides to pursue a best-cost provider strategy?

• A) offering the best prices in its industry on its goods and/or services
• B) attempting to gain monopoly in the market by means of an unhealthy competition
• C) offering products or services of reasonably good quality at competitive prices
• D) providing high quality products at low prices in specific markets
• E) offering low quality products at low prices with high quality after-sales services

Understand the effect of different transactions on the company's operating, investing, and financing activities.

Identify the responsibilities of company management versus independent auditors in relation to financial statements.

Understand the characteristics and accountability in various business ownership structures (sole proprietorship, partnership).

Understand the various approaches to managing conflicts, including their characteristics and outcomes.

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Definitions:

Guarantor

A person assuming obligation to pay if the debtor does not.

Real Property

Land, buildings attached to the land, and items called fixtures, that is, items that are attached to the land or to a building or to another fixture attached to the land.

Personal Property

Tangible, movable goods (chattels) and intangible claims (choses in action).

Chattels

Tangible, movable personal property that can be measured and weighed; also known as goods.