Name and define the four types of utility created by marketing channels.
What will be an ideal response?
Marketing channels create four types of utility: time, place, possession, and form. Time utility refers to making products available when the customer wants them. Place utility is making products available in locations where customers wish to purchase them. Possession utility means that the customer has access to the product to use or to store for future use. Possession utility can occur through ownership or through arrangements that give the customer the right to use the product, such as a lease or rental agreement. Channel members sometimes create form utility by assembling, preparing, or otherwise refining the product to suit individual customer needs.
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The times-interest-earned ratio is calculated as ________.
A) earnings before interest and tax divided by interest expense B) profit before tax divided by interest expense C) net income divided by interest expense D) income tax expense plus interest expense divided by interest expense
The existence of competitors in a market may cause a decrease in total demand
Indicate whether the statement is true or false
Strods Company reported the following purchases and sales of its only product. Strods uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory300 units @ $15 5Purchase295 units @ $17 10Sales 215 units @ $2515Purchase175 units @ $18 24Sales 165 units @ $26
A. $6030 B. $9180 C. $4825 D. $4550 E. $7280
Fresco and Garcia form a partnership-HVAC Pros. Garcia's capital contribution is $10,000, and Fresco's is $15,000. The partnership agreement provides that profits are to be shared, with 40 percent for Garcia and 60 percent for Fresco. Later, Garcia
makes a $10,000 loan to the partnership when it needs working capital. When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed?