The UCC permits a contract to be enforced if the parties intended a binding contract, even though important terms may have been left open for later agreement
a. True
b. False
Indicate whether the statement is true or false
True
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According to the worldwide revenue figures for 2014, Omnicom Group is the world's largest advertising organization
Indicate whether the statement is true or false
Of the following, which is a potential disadvantage of using a simulated test market?
A) It is not as accurate as full scale test markets. B) The distribution network may or may not properly represent the firm's actual distribution system. C) It is often very time consuming and expensive. D) They allow competitors to acquire knowledge of the test. E) all of the above
Which of the following most closely reflects the marketing concept?
A) "The supplier is king." B) "Marketing should be viewed as foraging and not gardening." C) "This is what I make; won't you please buy it?" D) "This is what I want; won't you please make it?" E) "Customers need to be told where they want to go."
Which of the following is a drawback of the payback period?
A) it ignores a project's total profitability B) it uses a set discount rate C) it considers total profitability, requiring the forecasting of all future cash flows D) it uses before-tax cash flows rather than after-tax cash flows E) it uses operating income rather than cash flows