Which of the following is the first step in the four-step process of setting the right price of a product?
A. Estimate demand, costs, and profits.
B. Establish pricing goals.
C. Choose a price strategy to help determine a base price.
D. Fine-tune the base price with pricing tactics.
Answer: B
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On which of the following levels does needs assessment not take place?
a. Organizational b. Individual c. Team d. Task
Land costing $78,000 was sold for $93,000 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
A) $78,000 B) $93,000 C) $108,000 D) $15,000
Research indicates that yield management approaches are most appropriate when a service market is targeting one large market segment.
Answer the following statement true (T) or false (F)
Hank exchanged an old asset with a $12,000 adjusted basis for a new asset with a $32,000 FMV plus $2,000 cash. Compute Hank's realized and recognized gain if the new and old assets are like-kind properties.
A. $20,000 realized gain; $0 recognized gain B. $2,000 realized gain; $2,000 recognized gain C. $22,000 realized gain; $2,000 recognized gain D. $22,000 realized gain; $0 recognized gain