As a general rule of thumb, a retailer that has a high gross margin will have:
A. m-commerce capabilities
B. an inventory management system
C. low prices
D. salespeople trained in cross-selling techniques
E. high prices
Answer: E
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______ are a group of firms in the same industry that follow the same, or similar, strategies.
a. Strategic partners b. Cooperating firms c. Strategic groups d. Strategic networks
Describe the significance of “grit” and its role in building tolerance for failure.
What will be an ideal response?
A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $185,000. The current period's entry to record the warranty expense is:
A. Debit Estimated Warranty Liability $7,400; credit Cash $7,400. B. Debit Warranty Expense $7,400; credit Estimated Warranty Liability $7,400. C. Debit Warranty Expense $7,400; credit Sales $7,400. D. Debit Estimated Warranty Liability $7,400; credit Warranty Expense $7,400 E. No entry is recorded until the items are returned for warranty repairs.
Which of the following statements about the confidence interval is correct?
A) A confidence interval tells the insurer something about how confident it should be about the calculated risk premium. B) A confidence interval tells the insurer something about the size of the risk pool. C) A confidence interval tells the insurer something about how much money it has reserved in the past year to cover potential losses. D) All of the above are correct.