Carol manages a cell phone store and is debating how much personal selling and customer service she should utilize as part of her promotion strategy. What would you recommend and why?
What will be an ideal response?
Personal selling is important for products perceived as complicated, risky, or expensive. Initially, cell phones were a new and complicated product, which would suggest the need for considerable personal selling and customer service. Today, most consumers know what they want, so she could use less personal selling and more technology to address consumers' questions and concerns.
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Long, Inc uses the accrual basis of accounting. Long's rent expense account had a balance of $18,000 at the end of the year. The prepaid rent account had a balance of $5,000 at the beginning of the year and a balance of $9,000 at the end of the year. How much cash was paid for rent during the year?
A) $ 5,000 B) $9,000 C) $18,000 D) $22,000
What are the two main areas where personality is formed as stated in the textbook?
A. fauna and foster B. foster and hinder C. nature and nurture D. natural and nutritive
The most likely situation in which reported earnings are positive but operations are consuming rather than generating cash would be a
a. rapidly growing company. b. company reporting large noncash expenses. c. company using very conservative accounting standards that lower earnings. d. company paying large cash dividends to its shareholders.
Raj may sell his car to Hazel for $1,000 on Friday if he feels like it. If he refuses to sell her the car on Friday, can she sue him for breach of contract?
A) yes, because they formed a valid, enforceable contract B) no, because Raj made an illusory promise C) no, because of the preexisting duty rule D) no, because the consideration from Hazel was inadequate