The Universal Functions of Marketing Include Buying, Selling, Transporting, Storing

question 233

True/False

The universal functions of marketing include buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information.

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Definitions:

NonTaxable Income

Income that is not subject to taxation by the IRS or state tax authorities; examples include certain gifts, inheritances, and some types of insurance payouts.

Compensation

This represents payment or benefits provided to an employee or executive by an employer for services rendered.

Injuries

Physical harm or damage to a person's body.

Life Insurance Proceeds

The money paid out by a life insurance company to the beneficiary upon the insured's death.