What is the impact of retailing for consumers and the economy?
What will be an ideal response?
Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates customer value and has a significant impact on the economy. To consumers, the value in the form of the utilities provided. Retailing's economic value is represented by the people employed in retailing, as well as by the total amount of money exchanged in retail sales.
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All of the following tests of controls will provide evidence that adequate computer virus control techniques are in place and functioning except
a. verifying that only authorized software is used on company computers b. reviewing system maintenance records c. confirming that antivirus software is in use d. examining the password policy including a review of the authority table
The point where the total costs line intersects the left-hand vertical axis on the cost-volume-profit chart represents:
A) the minimum possible operating loss B) the maximum possible operating income C) the total fixed costs D) the break-even point
In analyzing driving forces, the strategist's role is to
A. identify the driving forces and evaluate their impact on demand for the industry's product, the intensity of competition, and industry profitability. B. determine who is likely to exit the industry and what changes can be expected in the industry's strategic group map. C. forecast fluctuations in product demand and how buyer needs will most likely change. D. evaluate what stage of the life cycle the industry is in and when it is likely to move to the next stage. E. predict future marketing innovations and how fast the industry is likely to globalize.
On January 1, a company issues bonds dated January 1 with a par value of $310,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 12% and the bonds are sold for $298,594. The journal entry to record the first interest payment using the effective interest method of amortization is:
A. Debit Interest Expense $16,184; debit Discount on Bonds Payable $866; credit Cash $17,050. B. Debit Interest Expense $17,916; credit Premium on Bonds Payable $866; credit Cash $17,050. C. Debit Interest Payable $17,050; credit Cash $17,050. D. Debit Interest Expense $16,184; debit Premium on Bonds Payable $866; credit Cash $17,050. E. Debit Interest Expense $17,916; credit Discount on Bonds Payable $866; credit Cash $17,050.