A Mass Services Firm Is Characterised By

question 51

Multiple Choice

A mass services firm is characterised by:

• A) low contact time.
• B) medium contact time.
• C) high contact time.
• D) high customisation.

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Definitions:

FOB Destination

A shipping term where the seller is responsible for the delivery of goods to a specific destination, absorbing all costs and risks until the goods are received by the buyer.

Perpetual Inventory System

A method of inventory management where updates to inventory records are made continuously as transactions occur.

Net Price Method

An accounting method where discounts are not recorded in the accounting records; instead, purchases are recorded at the net purchase price.

Exchange Rates

The price of one country's currency in terms of another currency, which determines how much foreign currency one can buy with a unit of domestic currency.