Numerous self-regulatory programs have been created to stop or stall the development of laws and government regulatory groups that would regulate marketing practices.
Answer the following statement true (T) or false (F)
True
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The accounting equation must balance after each transaction
a. True b. False Indicate whether the statement is true or false
Which conflict management style attempts to find the middle ground and work toward it?
A. avoidance B. compromising C. competitive D. accommodative
Which of the following is a legal aspect of promotional communication and subject to guidelines of the FTC?
A) You can use any person's image as long as you don't imply they are endorsing your product. B) Marketing and sales messages are not considered binding contracts. C) Marketing messages aimed at children under the age of 13 are subject to special rules. D) Marketing messages can imply deceptive claims but cannot make an outright statement of the claim if it is untrue. E) Offering a money-back guarantee is considered support for a claim.
Company A uses LIFO and Company B uses FIFO for inventory valuation. Otherwise, the firms are of similar size and have the same revenue and expense. Assume inflation. In analyzing liquidity and profitability of the two firms, which of the following will hold true?
a. It is impossible to compare two firms with different inventory methods. b. Company B will have relatively higher profit and higher inventory turnover. c. Company B will have relatively higher profit and lower inventory turnover. d. Company A will have a higher current ratio and acid test ratio, with the same profit. e. Company B will have relatively higher profit and a higher current ratio.