To recruit, motivate, and keep good salespeople, a firm has to
A. give public recognition.
B. reinvent its marketing strategies.
C. develop an effective compensation plan.
D. offer promotions.
E. provide encouragement by giving trophies and certificates.
Answer: C
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The margin of safety ratio is equal to:
a. Net operating income percentage / Contribution margin ratio. b. Contribution margin / Sales. c. Contribution margin / Net operating income. d. Margin of safety / Fixed cost.
How many units must BAC Company sell to break even if the selling price per unit is $8.50, variable costs are $4.00 per unit, and fixed costs are $9,000?
A) 1,000 units B) 1,059 units C) 2,000 units D) 2,250 units
Which of the following statements is true of necessity entrepreneurship in high-income countries?
A. The rate of necessity entrepreneurship is low. B. The risks of necessity entrepreneurship are low. C. Necessity entrepreneurship is a major contributor to the nation's economy. D. Necessity entrepreneurship occurs when there are several sources of income.
Abe is involved in an automobile accident and is injured. While he is unconscious, the police call an ambulance which takes him to a hospital. Abe is treated at the hospital and released a day later. The hospital sends him a bill for $2,400, which Abe refuses to pay, claiming it is too high and he never consented to the treatment because he was unconscious. Abe:
A) has entered into a unilateral contract with the hospital and therefore will have to pay the bill. B) has a quasi-contractual agreement with the hospital. C) has entered into an implied in fact contract with the hospital. D) and the hospital have entered into a bilateral contract, the terms of which require that he pay the bill.