The purchasing function is concerned with:
A) producing goods or providing services.
B) procuring materials, supplies, and equipment.
C) building and maintaining a positive image.
D) generating the demand for the organization's products or services.
E) securing monetary resources.
B
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Sellers allow customers to use bank (or third-party) credit cards for all of the following reasons except:
A. To increase total sales. B. To avoid having to decide who gets credit and how much. C. To speed up receipt of cash from the credit sale. D. To be able to charge more due to fees and interest. E. To avoid the risk of customers not paying.
Your commercial bank is offering a one-year CD with an interest rate of 7%. A financial company offers an interest rate of 10% on its one-year certificate (not a CD). The risk premium offered by the financial company is
A) 7%. B) 3%. C) 4%. D) 1.5%.
Which of these is most likely to be attacked by the FTC as a deceptive business practice?
a. selling stock to investors in a company for three times its true value b. charging 25% interest on consumer loans when the market rate of interest is 10% c. selling original art to consumers at prices significantly above market value d. telling consumers that a brand of jeans is special and selling them for double what other jeans sell for, when they are the same as other jeans except for the name e. none of the other choices
Which of the following statements is true when referring to the RBI screen?
A. You should answer the RBI screen questions with only a few words. B. The RBI screen does not rule out unprofitable ideas. C. The RBI screen should be the final step in the screening process. D. The RBI screen is the most comprehensive screening tool.