Which of the Following Statements About a Typical Sales-Oriented Business

question 79

Multiple Choice

Which of the following statements about a typical sales-oriented business is TRUE?

• A) The company develops its products to meet the needs of specific groups of people.
• B) The primary goal of the company is profit through customer satisfaction.
• C) The company invests the majority of its resources in promoting its products and services.
• D) The company is in business to satisfy customer wants and needs and deliver superior value.
• E) All of these statements about a typical sales-oriented business are true.

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Definitions:

Duty of Diligence

An obligation to exercise reasonable care and diligence in the performance of obligations, typically referring to the conduct expected of directors, officers, and professionals.

Conflict of Interest

A situation where an individual's personal interests could interfere with their professional duties or responsibilities.

RMBCA

The Revised Model Business Corporation Act, which provides a model framework for the governance of corporations, intended to standardize corporate law across jurisdictions.

Board of Directors

A group of individuals elected by shareholders to oversee the management and make key decisions for a corporation.