As Compared to Final Consumers, Organizations

question 263

Multiple Choice

As compared to final consumers, organizations

• A) always focus on economic factors.
• B) have more varied needs, and require more varied marketing mixes.
• C) have needs that are often easier to understand.
• D) always set out detailed information about the performance standards the product must meet when quality is highly standardized.
• E) are usually more emotional in their buying than final consumers.

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Definitions:

Cost Of Goods Sold

An accounting term referring to the direct costs attributable to the production of the goods sold by a company.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, becoming the next period's beginning inventory.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals, such as monthly or annually, rather than continuously.

FIFO

"First In, First Out," an inventory valuation method assuming that the oldest items in inventory are sold or used first.