Which of the following statements is true of convenience products?
A. A consumer is unwilling to shop extensively for convenience products.
B. These are products that are perceived to have similar features.
C. A consumer is unwilling to accept other substitutes for convenience products.
D. These are products that are not actively sought after by consumers.
Answer: A
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The accountant for the Daneen Company made the following errors related to purchases of merchandise and ending inventory in 2016: 1. A $3,100 purchase of merchandise on credit early in 2015 was recorded and included in ending inventory at December 31, 2016. 2. A $2,750 purchase of merchandise on credit in 2014 was recorded, but it was not included in the end-of-year physical inventory count. ?
Assuming a periodic inventory system, Daneen Company's 2016 net income will be A) understated by $350. B) understated by $5,850. C) overstated by $5,850. D) overstated by $350.
A__________is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain
Fill in the blanks with correct word.
Identify the most common reasons why business plans fail.
What will be an ideal response?
Customers at an amusement park arrive at the rate of 10 customers per hour. The entry booth is staffed by one employee. The mean service time at the booth to provide service to each customer is 5 min. The arrival rate follows a Poisson distribution, and the service time at the booth follows a negative exponential distribution. It is estimated that the cost of customer waiting time associated with dissatisfied customers and loss of goodwill is $12 per hour. The employee at the service booth is paid $8 an hour. Determine the average customer waiting time cost per day in the queue. Assume total hours of operation as 10 hr per day.
A. $599 B. $625 C. $500 D. $700