Concerning Cost,which of the Following Is/are True

question 105

Multiple Choice

Concerning cost,which of the following is/are true?

• A)Lowering cost results from the organization's ability to use resources more efficiently to obtain its objectives.
• B)Reducing costs is important because of the long-run relation between product cost and price.
• C)If two products provide the same quality and services,the customer will choose the product with the lower price.
• D)All of the answers are correct.

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Definitions:

Life Insurance

A contract in which an insurer agrees to pay a designated beneficiary a sum of money upon the insured individual's death.

Uniform Commercial Code

A comprehensive set of laws regulating commercial transactions and dealings across the United States, aiming for uniformity among states.

Article 2

Refers to a particular segment of a legal code or document, which could vary significantly by context, often involved in discussing commercial transactions in the U.S. Uniform Commercial Code.

United Nations Convention

An international treaty adopted under the auspices of the United Nations, on various global issues ranging from human rights to environmental protection.