Most Banks Implement Customer Retention Programs Aimed at Their Best

question 84

Multiple Choice

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in

• A)a product development growth strategy.
• B)an operational advantage.
• C)opportunities for diversification.
• D)increased long-term profits.
• E)more clearly defined market segments.

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Definitions:

Equivalent Units

A method in process costing that transforms units that are incomplete into an equivalent number of units that are considered fully completed.

Conversion Costs

Conversion costs are the combined costs of labor and overhead expenses required to convert raw materials into finished products.

Equivalent Units

Measures used in manufacturing to express the amount of work completed in terms of fully finished units during a given period.

First-in

This typically refers to the inventory valuation method "First-In, First-Out" (FIFO), which assumes the first items produced or purchased are the first ones sold.