In year 1, Southern Construction agrees to construct a school building for $12,000,000, receiving payments for the work of $6,000,000 in both year 1 and year 2 . Southern estimates that the costs will be $4,000,000 in Year 1 and $6,000,000 in Year 2 . If Southern uses the percentage-of-completion method (based on total costs), what amount of profit is recognized in each year of the contract? Year
1 Year 2
a. $0 $2,000,000
b. $2,000,000 $0
c. $1,000,000 $1,000,000
d. $800,000 $1,200,000
e. $2,000,000 $1,000,000
D
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Research has shown that people respond best to clear, well-defined goals. Which element of goal-setting theory does this refer?
A. specific goals B. goal commitment C. goal acceptance D. feedback
When during the sales presentation should the salesperson use a trial close?
What will be an ideal response?
Jacob Engineering Group views and organizes its marketing activities from the viewpoint of its buyers. Management works hard to sense, serve, and satisfy the needs of its well-defined group of buyers. What does Jacob Engineering Group practice?
A) consumer-oriented marketing B) societal marketing C) sense-of-mission marketing D) customer-value marketing E) innovative marketing
Answer the following statements true (T) or false (F)
Countries following the continental model include most major countries of Western Europe as well as Japan.