If Given the Chance to Complain, 95 Percent of Customers

question 56

True/False

If given the chance to complain, 95 percent of customers will buy again when a business handles their complaints promptly and effectively.

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Definitions:

Historical Cost

The original monetary value of an asset or investment at the time of its acquisition or payment.

Exposure Draft

A document issued by accounting and regulatory bodies for public comment that proposes new or changes to existing accounting policies.

Fair Value

An estimate of the market value of an asset or liability, based on current prices in an orderly transaction between willing participants.

Financial Assets

Any assets that are cash, an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument.