A captive customer is most likely to ________
A) have a low purchase amount
B) recommend a brand or company to others
C) have a weak product preference
D) have a high customer loyalty index
E) have a high desire to repurchase
C
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A majority of partners must agree before one partner can bind the other partners to a contract if he or she is acting within the general scope of the business
Indicate whether the statement is true or false
The Income Summary account has a debit balance of $2,000 after the first two closing entries have been journalized and posted. The $2,000 represents the net loss of the business that will be closed into the Capital account
Indicate whether the statement is true or false
A company needs 8,600 hours of processing time during the course of its operations. One machine offers a processing time of 2,400 hours. In this case, ______.
a. the company should use four machines b. the company should use only two machines so that they are fully utilized c. the company should redesign its product so that it needs more processing time d. the company should use three machines to achieve maximum utilization rate
Unlimited liability means
A. there is no limit on the amount an owner can borrow. B. creditors will absorb any loss from nonpayment of debt. C. the business can borrow money for any type of purchase. D. the owner is responsible for all business debts. E. stockholders can borrow money from the business.