A $60,000 outlay for a new machine with a usable life of 15 years is called ________
A) capital expenditure
B) financing expenditure
C) replacement expenditure
D) operating expenditure
A
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Which of the following statements related to business card exchange is incorrect?
a. U.S. persons only exchange business cards when there is a reason to contact the person later. b. Business cards for use internationally should be white with black ink. c. Present the business card with the left hand only in Africa. d. Present the business card with both hands in Japan.
Which of the following is true with regard to an exculpatory clause?
a. An exculpatory clause excuses one party from liability for her own tortious conduct. b. Where one party has a superior bargaining position that has enabled him to impose an exculpatory clause upon the other, the courts are inclined to nullify the provision. c. An exculpatory clause may be unenforceable for unconscionability. d. All of these are true.
Cellphones & Calltime, Inc, makes an offer to Delores to enter into a contract to work as a salesperson for a certain base salary plus commission for ninety days subject to a one-year renewal based on her performance. Delores accepts the offer. A valid contract requires
a. a price and a subject. b. a duration and termination provision. c. an offer and an acceptance. d. specific quality standards.
Use this information for questions that refer to the Wire Products Inc. (WPI) case.Rob Rose sat back to review the portfolio of products his company, Wire Products Inc. (WPI), has in its product line. The company specializes in making various products for consumer and industrial uses from hard laminated wire that is coated with special paints.1) WPI's Wire Closet products have been on the market for 10 years. Consumers install the wire shelves and closet rods themselves. The market leader, Closetmaid, has been selling similar products for more than 20 years, but so far the sales volume and profits for the market have continued to grow. Recently, several new competitors have come into the market.2) Three months ago, WPI entered the lawn and garden market with folding fences made with
laminated wire and branded as Wire Fold-Fence. Previously, WPI had never made fences or been a player in the lawn and garden market-although other companies have been making products in this market for years. However, Rob Rose has discovered that recent sales of wire garden fencing have leveled off and profits are declining overall. Still, WPI thinks it has some cost advantages and can grow its own sales and profits in this market.3) WPI has just developed Oil Wire, a new concept for the environmental cleanup market. Oil Wire is coated with a special material that cleans up oil spills. There has never been a product like this and WPI wants to quickly get the word out about its benefits. The product is now being rolled out in selective markets.4) Another business product is Wire Locker, used for secure storage by gymnasiums or companies. This style of locker has now gone out of fashion, and most customers are finding better materials to use for lockers. Aggressive selling has helped Wire Locker's sales stay flat, but the total market for wire-style lockers is only half what it was 10 years ago.5) WPI's Wire Window product is used as a security product to protect glass windows. It sells to homeowners and retailers looking for additional safety. WPI's sales of this product have dropped in recent years because competitors have introduced maintenance-free products. However, the overall market for this type of product continues to show good growth.6) WPI is running concept tests of a new wire car-top carrier called Wire Car Top. There are other car-top carrier products on the market, but WPI plans to include options in its carrier that will make it easier to load bikes, skis, and suitcases. Wire Car Top is also very easy to put on and take off of the car because of its light weight and ease-of-use features. The concept tests are helping WPI analysts develop rough estimates of costs, sales, and profits.7) Another new-product idea, tentatively called Wire Tent, is being considered. It would use laminated wires to create a portable tent frame. This product is currently being evaluated to determine its fit with the company's objectives and external market trends.Rob is thinking about the product life cycle, where each product fits, and what he should be doing as part of his marketing plan for each of these products. Is it a good idea for a company like WPI to have several product managers? A. Yes, because the company has several different product categories. B. No, because the company has several different product categories. C. No, because the company would need someone to give direction to the advertising manager. D. Yes, because the company would want to eliminate the job of advertising manager.