Answer the following statements true (T) or false (F)
1.If the U.S. demand for Korean steel is price elastic, an export subsidy granted to Korean steel firms will increase Korea's export revenue.
2.International dumping occurs when foreign buyers are charged higher prices than domestic buyers for an identical product, after allowing for transportation costs and tariff duties.
3.Sporadic (distress) dumping would occur if domestic orange producers dispose of an excess quantity of oranges, resulting from an abnormally large harvest, by selling them at lower prices abroad than at home.
4.Predatory dumping would occur if Toyota Inc. of Japan sells autos to U.S. consumers at lower prices than to Japanese consumers in order to put Chrysler Inc. out of business.
5.A firm would increase profits from dumping if it charged a lower price at home, where demand is inelastic, and a higher price abroad, where demand is elastic.
1.True
2.False
3.True
4.True
5.False
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In the VALS framework, those consumers who are practical and deliberate information-seekers, and who value durability and functionality in products over styling and newness are called
A. Innovators. B. Thinkers. C. Experiencers. D. Believers. E. Achievers.
Answer the following statements true (T) or false (F)
Output-oriented principles are broad rules that guide the accounting function.
Which of the following is most likely a true statement regarding prospecting?
A) Personal observation is an unlikely prospecting technique. B) Cold call prospecting is a systematic approach to identifying prospects. C) The response rate for e-mails is high, so they are a valid source of prospects. D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. E) Networking should be avoided as a source of prospects because it is unprofessional to mix business and friendship.
At the current year-end, Ruiz Company found that its overhead was underapplied by $2,500, and this amount was not considered material. Based on this information, Ruiz should:
A. do nothing about the $2,500, since it is not material, and it is likely that overhead will be overapplied by the same amount next year. B. close the $2,500 to Cost of Goods Sold. C. carry the $2,500 to the next period. D. close the $2,500 to Finished Goods Inventory. E. carry the $2,500 to the income statement as "Other Expense".