Which of the Following Refers to Costs Incurred in Detecting

question 147

Multiple Choice

Which of the following refers to costs incurred in detecting poor quality goods or services?

• A) Appraisal costs
• B) External failure costs
• C) Internal failure costs
• D) Prevention costs

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Definitions:

GATT

General Agreement on Tariffs and Trade, a multilateral agreement regulating international trade, aimed at reducing tariffs and other trade barriers to promote economic cooperation and free trade.

Self-actualization

The achievement of realizing one's inherent abilities and potentials, viewed as a natural desire or necessity found in all individuals.

Repositioning

The process of changing the market's perception of a product or brand, often aiming to target a new demographic or market segment.

Generic Alternatives

Products, especially pharmaceuticals, that are not branded and are sold under their generic names, usually at a lower cost than branded versions.