In Broad Terms, ____________ Focuses on Benefits Created for the Customer's

question 23

Multiple Choice

In broad terms, ____________ focuses on benefits created for the customer's side of the equation, and _____________ addresses the financial costs incurred by the firm.

• A)productivity; quality
• B)reliability, value
• C)security; responsiveness
• D)value; reliability
• E)quality; productivity

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Definitions:

Incurred

Expenses or losses that have been realized or taken on, typically reflecting costs associated with the operation of a business.

Prepaid Insurance

The portion of insurance premiums that has been paid in advance and is recorded as an asset until the coverage period lapses.

Insurance Expense

It refers to the cost associated with purchasing insurance policies for protecting against risks and potential financial losses.

Adjusted Balance

An account balance reflecting all transactions except for those which have not yet been posted due to timing differences.