The majority of consumers listen to and follow the product opinions of their friends and family members
Indicate whether the statement is true or false
TRUE
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Novamalt Inc, a manufacturer of health drinks, plans to introduce its new range of health drinks for women into the market. It involves a specialized marketing research firm to forecast the sales of this product
The research firm analyzes past buying behavior of customers and uses time-series analysis for making the sales forecasts. Which of the following information bases is being used by the research firm in this scenario? A) what people say B) what people do C) what people have done D) what people will do E) what people speculate
It is important that a standard rate rather than actual expenses be used to charge service department costs to producing departments so that:
a. production department managers know the amount of usage at the beginning of the year. b. extra costs resulting from inefficient operations in service departments cannot be passed on to the production departments. c. service department managers don't need to worry about meeting their budgets. d. extra costs resulting from inefficient operations in production departments can not be passed on to the service departments.
A retail organization's sales salaries consist of a base amount plus a commission of 5 percent on each sale. Which of the following would properly classify the cost of sales salaries?
a. Fixed and product b. Mixed and period c. Mixed and product d. Variable and product
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = I Decrease = D No Effect = NA (Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)An adjusting entry recorded as a debit to Salaries Expense and a credit to Salaries Payable.Assets Liabilities Stk. Equity Revenues Expenses Net Income Stmt of Cash Flows???????
What will be an ideal response?