Which of the following is true concerning a Chapter 11 bankruptcy?
a. Constitutes a complete shutdown of the organization
b. Requires the entity to reorganize to pay creditors
c. Is available only to persons
d. Requires debtors to repay creditors over a specified period
b
FEEDBACK: a. Incorrect. Chapter 7 bankruptcy involves a complete shutdown or liquidation of the organization.
b. Correct. Chapter 11, among other things, requires the organization to reorganize to pay creditors.
c. Incorrect. Chapter 11 bankruptcy is available to persons and corporations.
d. Incorrect. Chapter 13 bankruptcy requires debtors to repay creditors over a specified period (say 2-3 years).
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Indicate whether the statement is true or false
A horizontal retail audit _____
a. identifies the relative importance of each retailing mix element b. focuses on separate functional elements c. evaluates the environment facing a retailer: the economy, demographics, competition, and consumers d. is always disguised
Assume that Sherrie's Cherries contracts with Dessert World to sell and ship 600 pounds of cherries in three equal installments of 200 pounds each. If the first installment arrives with 5 pounds of spoilage, then Dessert World may:
a. reject the installment shipment because of the perfect tender rule. b. not reject the installment if those in the food industry expect a small percentage of spoilage with fresh fruits or vegetables. c. reject the entire contract. d. declare a breach and "cover."
In the context of new-product development and the balance of market needs and company resources, marketing managers must generally
A. focus on satisfying customer needs, even if it means taking a loss. B. recognize that new-product projects need to meet ROI goals. C. have various departments independently evaluate the feasibility of new ideas. D. develop marketing plans for goods that can't currently be produced profitably. E. place a product in the market quickly and not wait for a marketing plan.