Scenario 5.1 Use the following to answer the questions. Lil Angels Kids Spa offers various treatments designed to appeal to the younger customer. Treatment options include manicures, pedicures, facials, tea parties, and dress up photos. Parents can even purchase a birthday party package. Currently, Lil Angels offers its services only to girls under the age of 14. Originally begun in Delaware, Lil Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17. The company realizes that some changes may be needed. For example, management wants to find out if the older girls will be interested in their birthday party and tea party services. Refer to Scenario 5.1. Lil Angels Kids Spa is currently using a(n)____
targeting strategy.
A. undifferentiated
B. exclusive
C. concentrated
D. differentiated
E. selective
Answer: C
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A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry torecognize this event is
a. debit Cash, $6,120; credit Notes Receivable, $6,120 b. debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; credit Interest Receivable, $120 c. debit Notes Receivable, $6,060; credit Accounts Receivable, $6,060 d. debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; credit Interest Revenue, $120
Asset disposal
a. occurs as soon as an asset is fully depreciated b. requires no special authorization c. automatically initiates the purchase of a replacement asset d. must follow formal authorization procedures
Identify how a company might evaluate whether or not to support the United Way, a program that collects donations and distributes them to a wide range of charities.
What will be an ideal response?
The enlightened self-interest school of social responsibility:
a. Holds that the primary responsibility of business is to accommodate the community. b. Holds that the primary responsibility of business is to earn a profit. c. Does not acknowledge the interest of others beyond shareholders. d. Both b and c e. None of the above