Which of the following statements about the competitive environment is FALSE?
A. Over the long run, most product-markets tend toward monopolistic competition.
B. A firm that has a marketing mix that its target market sees as better than its competitors has a competitive advantage.
C. In a competitor analysis, the firm's first step should be to identify all potential competitors.
D. Competition-free environments are rare.
E. Marketing managers should choose strategies that avoid head-on competition.
Answer: A
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The estimated amount of uncollectible accounts is adjusted on the work sheet by debiting Allowance for Bad Debts and crediting Bad Debt Expense
a. True b. False Indicate whether the statement is true or false
Aries and Eros start a partnership with capital contributions of $37,000 and $63,000, respectively. Over the course of the year, Aries withdraws $4800 from the business in order to meet his personal expenses. Which of the following is the correct journal entry to close the relevant Withdrawals account at the end of the year?
Assume that you are a male salesperson. What advice does the text give you about the length of your hair?
A. Wear your hair at a medium length in order not to offend prospects that prefer long or short hair. B. Consider the types of customers you will be calling on and select your hairstyle accordingly. C. Use hair styling products to maintain a stylish appearance. D. Wear it short to suggest a conservative, professional, and business-like approach. E. Wear it long to show an optimistic outlook on life.
Profit margin is defined as:
A. Net sales divided by assets. B. Net income divided by assets. C. Revenues divided by net sales. D. Net income divided by net sales. E. Net sales divided by net income.