Concerning the "universal functions of marketing," which of the following statements is FALSE?
A. Responsibility for performing these functions cannot be shared.
B. From a micro viewpoint, not every company must perform every function.
C. From a macro viewpoint, all these functions must be performed by someone.
D. These functions can be performed by producers, intermediaries, collaborators, or consumers.
Answer: A
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The work sheet of PSI Company shows Income Tax Expense of $9,000 and Income Tax Payable of $9,000 in the Adjustments columns. What will be the ultimate disposition of these items on the work sheet?
a. Income Tax Expense will appear as a debit of $9,000 and Income Tax Payable as credit in the Balance Sheet columns. b. Income Tax Expense will appear as a debit of $9,000 and Income Tax Payable as credit in the Income Statement columns. c. Income Tax Expense will appear as a debit of $9,000 in the Balance Sheet columns and Income Tax Payable as credit in the Income Statement columns. d. Income Tax Expense will appear as a debit of $9,000 in the Income Statement columns and Income Tax Payable as credit in the Balance Sheet columns.
The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on December 31.January 26Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $1 million at the bank's prime rate.March 1Arranged a six-month bank loan of $400,000 with City Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity.September 1Paid the 8% note at maturity.
What will be an ideal response?
A single service problem can destroy a customer's confidence in a firm under what three conditions?
What will be an ideal response?
Upon review of Mack's statement of cash flows, the following was noted: Cash flows from operating activities $ 15,000 Cash flows from investing activities 40,000 Cash flows from financing activities (50,000) From this information, the most likely explanation is that Mack is:
A) using cash from operations and selling long-term assets to pay back debt. B) using cash from operations and borrowing to purchase long-term assets. C) using its profits to expand growth. D) using cash from investors to provide for operations.