Which of the following statements about the product and supplier selection stage of the business buying decision process is true?
A) Price is the only factor businesses consider before making a purchase decision.
B) Even companies that have adopted a total quality management approach consider price to be the most important determinant of who to buy from.
C) Before making a purchase decision, many businesses consider quality, reliability, durability, and after-the-sale service, as well as price.
D) Because after-the-sale service is a negotiation point, it is not considered at this stage of the business buying decision process.
E) Price and warranty are the only two factors businesses consider before making a purchase decision.
C
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ABC Insurance Company calculated the amount that it expected to pay in claims for each policy sold
Rather than selling the insurance for the amount it expected to pay in claims, ABC added an allowance to cover the cost of doing business, including commissions, taxes, and acquisition expenses. This allowance is called a(n) A) policyowner dividend. B) premium. C) expense loading. D) rate credit.
In terms of costs to organize each, which of the following sequences is correct, moving from highest to lowest cost?
A) General partnership, sole proprietorship, limited partnership, corporation. B) Sole proprietorship, general partnership, limited partnership, corporation. C) Corporation, limited partnership, general partnership, sole proprietorship. D) Sole proprietorship, general partnership, corporation, limited partnership.