A prototype is a
A. sample of a new product given to prospective customers and opinion leaders used to generate awareness prior to the product's commercial release.
B. simulated operating model of the product given to consumers to use in full-scale field testing.
C. miniature version of an actual new product used in concept testing to identify any changes that need to be made prior to its commercialization.
D. full-scale operating model of the product under development.
E. digital version of a product produced in multiple shapes, colors, and sizes to determine which version of the product customers like best.
Answer: D
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A $140 petty cash fund has cash of $18 and receipts of $120. The journal entry to replenish the account would include a credit to
A) Cash for $120. B) Cash Over and Short for $2. C) Petty Cash for $122. D) Cash for $122.
Which one of the following has the lowest level of risk?
A) commercial paper B) money market mutual fund account C) banker's acceptance D) U.S. Treasury bill
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $39,590 per month plus $2,649 per flight plus $4 per passenger. The company expected its activity in August to be 82 flights and 294 passengers, but the actual activity was 85 flights and 297 passengers. The actual cost for plane operating costs in August was $255,690.The plane operating costs in the flexible budget for August would be closest to:
A. $265,943 B. $257,984 C. $255,690 D. $267,422
Which of the following is true regarding personal financial credit reports?
A) they rarely contain inaccurate data B) inaccuracies are not usually spotted because many individuals do not review their reports regularly C) there are no laws that govern them D) they are easily corrected if found inaccurate