Briefly describe the process of value-based pricing
What will be an ideal response?
The company first assesses customer needs and value perceptions. It then sets its target price based on customer perceptions of value. The targeted value and price drive decisions about what costs can be incurred and the resulting product design. As a result, pricing begins with analyzing consumer needs and value perceptions, and the price is set to match perceived value.
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An auditor plans to examine a sample of 20 checks for countersignatures as prescribed by the entity's internal control procedures. One of the checks in the chosen sample of 20 cannot be found. The auditor should consider the reasons for this limitation and:
A. evaluate the results as if the sample size had been 19. B. treat the missing check in the same manner as the majority of the other 19 checks (i.e., countersigned or not). C. choose another check to replace the missing check in the sample. D. treat the missing check as a deviation for the purpose of evaluating the sample.
A corporate governance model that says profit maximization is the key, if not the only, concern of management is known as the ________ model.
Fill in the blank(s) with the appropriate word(s).
With regard to state taxation, a major controversy today is:
a. states' ability to tax same-sex unions b. states' ability to tax internet businesses c. states' ability to tax campaign contributions d. states' ability to tax local flea markets e. states' ability to tax oil found in the state
Which of the following occurs when someone uses confidential information to gain from the purchase or sale of stocks?
A) Identity theft B) A margin purchase C) Insider trading D) Collusion E) A guarantee