Answer the following statement(s) true (T) or false (F)
1. Business models must be changed whenever a company launches a new product or service.
2. The business model of an entrepreneur must be flexible in order to respond to new information.
3. Entrepreneurs should try to address every potential customer in a market.
4. The infrastructure of the business model does not identify people only technology and facilities.
5. To have an effective CVP for your business plan, it must offer better value than the competition.
1. False
2. True
3. False
4. False
5. False
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All of the following statements are true except:
a. IFRS uses net realizable value with no upper or lower limits imposed. b. Both U.S. GAAP and international financial reporting standards (IFRS) require the use of the lower-of-cost-or-market rule to value inventories. c. Write-downs of inventory can be reversed in later periods under U.S. GAAP. d. U.S. GAAP defines market value as replacement cost.
A continuing process of identifying, collecting, analyzing, accumulating, and dispensing critical data to marketing decision makers is known as ________.
A. the marketing mix B. a marketing concept C. market-driven strategic planning D. a market information system E. marketing orientation
Between 1930 and 2014, the average return on stocks exceeded 10%
Indicate whether the statement is true or false.
A parameter such as is sometimes referred to as a(n) ____ parameter, because many times, we need its value even though it is not the parameter of primary interest
a. special b. random c. nuisance d. independent e. dependent