Good Relationships Start with a Good Fit Between Customer Needs

question 6

True/False

Good relationships start with a good fit between customer needs and company capabilities.

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Definitions:

Prepayment Penalties

Fees charged to borrowers for paying off a loan early, as compensation for the lender's lost interest income.

Pledge of Inventory

The use of a company's inventory as collateral to secure a loan or meet other financial obligations.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to raise immediate capital.

Turning Receivables

Involves managing and collecting funds owed to a business by its customers within a given period.