Business markets have several characteristics that contrast sharply with those of consumer markets. Name and briefly characterize five of those characteristics
What will be an ideal response?
The characteristics of business markets as compared to consumer markets are: (1 ) fewer, larger buyers, (2 ) close supplier-customer relationship, (3 ) professional purchasing, (4 ) multiple buying influences, (5 ) multiple sales calls, (6 ) derived demand, (7 ) inelastic demand, (8 ) fluctuating demand, (9 ) geographically concentrated buyers, and (10 ) direct purchasing. See chapter section for brief characterizations.
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A summer camp with horse-riding trails that are open only from March to September would tend to budget media using which type of schedule?
A) continuous B) reach-based C) pulsating D) flighting, or discontinuous
In preparing the bank reconciliation of Yardley Company for the month of July, the following information is available: Balance per bank statement, 7/31 ..................... $60,075 Deposits in transit, 7/31 ............................ 9,375 Outstanding checks, 7/31 ............................. 8,625 Deposit erroneously recorded by bank to Yardley's account, 7/18
...................................... 375 Bank service charges for July ........................ 75 What is the correct cash balance at July 31? a. $52,875 b. $54,375 c. $54,825 d. $60,450
The final figure in the Schedule of Cost of Goods Manufactured represents the
a. cost of goods sold for the period. b. total cost of manufacturing for the period. c. total cost of goods started and completed this period. d. total cost of goods completed for the period.
The IAS designation for the preferred accounting treatment is referred to as:
a. benchmarking. b. conformity. c. reconciliation. d. convergence.