What is customer alchemy?
A. Tailoring loyalty programs to suit customers' needs
B. Creating a group of customers bound together by loyalty to a retailer
C. Offering more products to existing customers
D. Increasing the data collection from only platinum and gold customers
E. Converting iron and gold customers into platinum customers
Answer: E
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Under the allowance method, the write-off of an account as uncollectible affects the balance sheet and the income statement
Indicate whether the statement is true or false
Which of the following statements regarding the matching principle is correct?
A. Tax accounting strictly follows the matching principle. B. The matching principle of financial accounting is an important component of the cash method of accounting. C. The matching principle of financial accounting is sometimes relevant to timing deductions for an accrual basis taxpayer’s recurring items. D. The matching principle has no relevance to tax accounting. E. None of these.
Who are the users of financial statements and what do they need?
In response to calls for greater pay flexibility:
A. Unions have refused to budge from a seniority based pay system. B. Management has worked to stifle creativity in pay design. C. Unions have agreed to more flexible pay systems like merit, bonuses, and skill-based pay. D. The government has passed laws aimed at protecting and employers right to design pay plans without union interference.