Explain the difference between puffery and an exaggerated claim in marketing
What will be an ideal response?
Puffery is a legal tactic that involves a claim of product superiority that cannot be proven or disproven, while an exaggerated claim is an illegal tactic that involves making a claim of superiority that can be proven false.
You might also like to view...
The 'Purpose of an Audit and Premise upon which an Audit is Conducted' section of Principles Underlying an Audit Conducted in Accordance with GAAS states that management is responsible for all the following except for:
A. the preparation and fair presentation of the financial statement in accordance with the applicable financial reporting framework. B. the design, implementation, and maintenance of internal control. C. ensuring that the financial statements are free from material misstatement, whether due to error or fraud. D. providing financial statement users with an opinion on whether the financial statements present fairly.
The _____ function pairs each element of the first array with its counterpart in the second array, multiplies the elements of the pairs together, and adds the results
a. SUM b. SUMPRODUCT c. SUMIF d. VLOOKUP
Patrick purchased a home on January 1, 2019, for $600,000 by making a down payment of $100,000 and financing the remaining $500,000 with a 30-year loan, secured by the residence, at 6 percent. During 2019, Patrick made interest-only payments on the loan of $30,000. On July 1, 2019, when his home was worth $600,000, Patrick borrowed an additional $75,000 secured by the home at an interest rate of 8 percent. He used the $75,000 loan proceeds to purchase a new car. During 2019, he made interest-only payments on this loan in the amount of $3,000. What amount of the $33,000 interest expense that Patrick paid during 2019 may he deduct as an itemized deduction?
A. $0. B. $30,000. C. $33,000. D. $3,000.
Serene Spa Sales uses the perpetual inventory system and the gross method of accounting for purchases and sales, and had the following transactions during August.
