When Avril went to purchase a birthday card for her new boyfriend, she went to three stores and spent four hours reading over five hundred cards before selecting the perfect one. This card (which cost $3.25) is properly designated a high-involvement product because of:
A. brand loyalty
B. situational factors
C. financial risk
D. cognitive dissonance
E. trial investment
Answer: B
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The University of Dover and Dover University are bitter cross-town rivals. They compete in everything from sports to academics. Because of shrinking enrollment, the schools make an agreement to give all incoming students free tuition for one semester before raising the existing rates the following semester. This action would be considered
A. a horizontal restraint, in violation of the Sherman Act. B. price fixing, in violation of the Robinson-Patman Act. C. a tying agreement, in violation of the Clayton Act. D. a vertical restraint, in violation of the Sherman Act.
Norwood, Inc purchased a crane at a cost of $80,000 . The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2015 and was used 2,700 hours in 2015 and 2,600 hours in 2016. Refer to the information for Norwood, Inc, Based on this information, what method of depreciation will produce the maximum
depreciation expense in 2016? a. Straight-line b. Double-declining-balance c. Units-of-production d. All methods produce the same expense in 2016.
The term "comprehensive income" as defined by the FASB
a. must be reported on the face of the income statement. b. includes all changes in equity during a period except those resulting from investments by and distributions to owners. c. is the net change in owners' equity for the period. d. is synonymous with the term "net income."
A person named in a will to carry out the deceased's wishes is a(n)
a. conservator. b. executor. c. receiver. d. administrator.