When Avril wanted to purchase a birthday card for her husband, she went to three stores and spent two hours reading over 100 cards before selecting the perfect one
This card, which costs $3.25, is properly designated as a high-involvement product because of _____ involvement.
a. product
b. situational
c. shopping
d. enduring
ANSWER: b
Situational involvement means that the circumstances of a purchase may temporarily transform a low-involvement decision into a high-involvement one. Since Avril spent a lot of time and effort in choosing a birthday card for her husband and since the cost of the card is low, it is an example of situational involvement.
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Which of the following statement present an example of a general control for a computerized system?
A. Creating hash totals from social security number for the weekly payroll. B. Limiting entry of sales transactions to only valid credit customers. C. Restricting access to the computer center by use of biometric devices. D. Restricting entry of accounts payable transactions to only authorized users.
Which of the following statements about the no-need objection is true?
A. No-need objections are typically handled through forestalling. B. No-need objections relate directly to the product. C. Such objections are rarely used because it is a rude way to get rid of the salesperson. D. Some salespeople actually encourage their prospects to make this kind of an objection because their sales presentation is poor. E. Once the no-need objection is expressed the salesperson should stop the presentation and try a close.
The Allowance for Doubtful Accounts has a debit balance of $3,000 at the end of the year (before adjustment), and the balance of Allowance for Doubtful Accounts is estimated at $12,000 . If Accounts Receivable are $700,000, the amount of the adjusting entry to record the provision for doubtful accounts using the analysis of receivables method is ________
a. $16,000 b. $9,000 c. $12,000 d. $15,000
Information can be referred to as what type of asset?
a. Knowledge b. Communication c. Intellectual d. Informative