Three areas of having the greatest impact on customer service and loyalty are discussed in this chapter. Name these and give a brief example of each
What will be an ideal response?
Three areas are:
• personalization (example: demand for individualized, customized products and services; rejection of "one-size-fits-all" thinking)
• changing demographics (example: adapting to broader ages range, changing image of older customers, global economy and broader range of cultures served, greater ethnic mix of employees, customers)
• transparency (example: customers have access to pricing information, competitive comparisons, etc.; companies being more open and trusting)
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Which of the following would be internal users of accounting information?
a. Customers and vendors b. Employees and managers c. Government and banks d. Employees and customers
Country Homes is a store for people who collect country arts and crafts and use them to decorate their homes. Last year, its net sales totaled $120,500. The cost value of the items it sold was $72,300. Taxes for the year were $7,680. The only expenses that the operation had were (1) rent for $3000, (2) salaries to the owner and one part-time assistant for $27,000, (3) utilities at $1,200, and (4) advertising of $500. Calculate the gross margin percentage for Country Homes.
A. 60.2 percent B. 9.6 percent C. 40 percent D. 7.3 percent E. 26.3 percent
The payment of interest expense will be depicted on the statement of cash flows as a:
A) cash inflow from an operating activity. B) cash outflow for an investing activity. C) cash inflow from a financing activity. D) cash outflow for an operating activity.
Cottle Company has total assets of $220,000 and total liabilities of $70,000. The company's debt-to-equity ratio is closest to
A) .32 to 1 B) .68 to 1 C) .24 to 1 D) .47 to 1