In Some Industries, Such as Legal and Consulting, Most Costs

question 103

Multiple Choice

In some industries, such as legal and consulting, most costs are locked in ________.

• A) when they are incurred
• B) during the design stage
• C) during the customer-service stage
• D) during the marketing stage

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Definitions:

Insure

To secure indemnity against potential future loss or damage, typically by obtaining an insurance policy.

Collect Payment

the act of receiving money that is owed, typically in exchange for goods or services.

Risk of Loss

Refers to the chance that an investment's actual returns will be different than expected, including the possibility of losing some or all the original investment.

Breaches

Incidents where laws, contracts, or promises have been violated or not fulfilled.