Sales promotion can induce customers to become brand-loyal
Indicate whether the statement is true or false
FALSE
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Even though a business may have gone out of business, a few consumers may still recall the company when thinking about making a new washing machine purchase due to:
A) carryover effects of previous ads B) wear out effects of ads of competitors C) threshold effects of former ads D) decay effects of former ads
Use the following financial information to find the entry you would make on an income statement for NET INCOME (LOSS) for the year ended December 31, 2011: Gross Sales, $223,000; Sales Returns and Allowances, $11,200; Sales Discounts, $1,800; Merchandise Inventory, January 1, 2011, $67,600; Merchandise Inventory, December 31, 2011, $78,300; Net Purchases, $84,000; Freight In, $950; Salaries, $107,200; Rent, $19,500; Utilities, $1,450; Insurance, $2,150; and Income Tax, $14,900.
A. $135,750 B. $210,000 C. $9,450 D. ($9,450)
The adjustment to journalize an additional worker's compensation insurance (WCI) premium due at the end of the year is
a. debit WCI Expense and credit Cash; b. debit WCI Expense and credit Compensation Refund; c. debit WCI Expense and credit WCI Payable; d. debit WCI Insurance Premium and credit WCI Payable; e. debit Insurance Payable and credit WCI Payable
C & G Retail, a chain of local supermarkets, procures all its goods directly from the producers' factories. This type of wholesaling is usually done in ________
A) corporate broker branches B) manufacturers' offices C) value-retail centers D) warehouse clubs E) factory outlet malls