Business Products Refer to

question 62

Multiple Choice

Business products refer to

• A)products that organizations buy that assist in providing other products for resale.
• B)paper products and office supplies necessary for the day-to-day operations of a business.
• C)ancillary services such as legal, accounting, and other consulting services necessary for the operation of a business, that cannot be achieved in-house.
• D)products that are sold exclusively to businesses and services rather than to ultimate consumers.
• E)product prototypes used to attract buyers for large ticket items that won't actually be constructed until a sale has been made.

Apply changes in the business environment (e.g., sales incentives, price changes, advertising budget adjustments) to predict their effect on net operating income.

Estimate sales required to achieve a target profit.

Understand the concept of contribution margin ratio and its application in determining target profit sales.

Compute margin of safety in both dollars and percentage terms.

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Definitions:

Electronic Communication

The transmission of information using electronic technologies, including email, text messaging, and social media.

Social Networking

The creation and maintenance of personal and business relationships especially online, via websites or applications that enable users to share content, interact, and develop communities based on shared interests.

Instant Messaging

A digital communication method that allows two or more people to exchange text messages in real-time through the internet.

Communication Barrier

Obstacles that impede the flow of communication, restricting mutual understanding and the exchange of information between individuals or groups.