During the implementation phase of an IMC program, a firm will ________ and carry out promotion.
A. design the promotion
B. pretest the promotion
C. posttest the promotion
D. identify possible advertising or promotional firms
E. state the mission
Answer: B
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A currency speculator's goal is to buy a currency at a low price and immediately resell it at a higher price, thus realizing a risk less profit.
a. True b. False
Source data for work in process at the beginning of the accounting period comes from
a. Materials Inventory in the general ledger; b. Work in Process in the general ledger; c. the Adjusted Trial Balance columns of the work sheet; d. the Income Statement columns of the work sheet; e. the Balance Sheet columns of the work sheet
Dog Corporation acquires all of Cat, Inc. for $400,000 cash. On that date, Cat has net assets with fair value of $350,000 but a book value and tax basis of $325,000. The tax rate is 30 percent. Prior to this date, neither Dog nor Cat has reported any deferred income tax assets or liabilities. What amount of goodwill should be recognized on the date of the acquisition?
A. $0. B. $50,000. C. $66,400. D. $65,000. E. $57,500.
Correcting a journal entry that has not been posted is done:
a. only at the end of the month. b. by completely crossing out the error and writing the correction on the next available line. c. by writing over the incorrect entry. d. by crossing out the incorrect item with a single line and writing the correction above it. e. none of the above.