The Sequence of Steps an Individual or Organization Goes Through

question 21

Multiple Choice

The sequence of steps an individual or organization goes through in making a decision to buy a product or service is called the ____________.

• A) purchasing process
• B) budget cycle
• C) 4 P's
• D) customer's job

---

Definitions:

Checkbook Balance

The amount of money available in an account, according to the account holder's records.

Bank Service Charge

Fees charged by a bank to a customer for account maintenance, transactions, and other financial services.

NSF Check

A check that has not been honored by the bank due to insufficient funds in the account to cover the amount.

Outstanding Checks

Checks that have been written and recorded in a company’s ledger but have not yet been cleared or deducted from the bank account balance.