Answer the following statement(s) true (T) or false (F)
1. The two components of marketing are advertising and selling.
2. Marketing is a process that fulfills both individual and organizational objectives.
3. The term product refers to tangible goods as well as services.
4. The ultimate purpose of marketing is to bring about exchanges between buyers and sellers.
5. Marketing produces utility, or added value.
1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. TRUE
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When bonds are issued between interest dates, the issuer collects from the investor the interest that would have accrued for the partial period preceding the issue date. Describe two reasons why this procedure is followed
When creating a "winning team" to prepare and deliver a team presentation,
a. "divvy up" the work into pieces and go through one complete practice prior to the presentation date. b. choose all members based on their presentation skills. c. determine whether each selected member will be committed to supporting the team strategy and schedule. d. use all of the above strategies.
John is a CPA in charge of auditing his client, McMillen & Co John's duty of care to McMillen will most likely be breached if John
a. gives his client an oral report instead of a written report. b. gives his client incorrect advice based on an honest error in judgment. c. fails to give tax advice that would save his client money. d. fails to follow generally accepted auditing standards (GAAS).
Answer the following statements true (T) or false (F)
1. Payments to suppliers include items such as employee compensation, interest and income taxes. 2. Cash payments for inventory are computed as– Total inventory purchased plus a decrease in Accounts Payable OR minus an increase in Accounts Payable. 3. Tumbler, Inc. reports cost of goods sold $65,000, an increase in inventory of $12,000 and an increase in accounts payable of $8,000. Cash paid for inventory was $69,000. 4. Cougs Co. reports cost of goods sold $40,000, an increase in inventory of $15,000 and a decrease in accounts payable of $5,000. Cash paid for inventory was $50,000. 5. Over time, if the cash conversion cycle for a business grows longer, this is an indication that they are holding cash too long.