Pennington's Superstore, which specializes in plus-size fashions for women, wanted to determine if it should add a line of plus-size junior wear. The following statement reflects which step in the five-step marketing research approach?: "To compare the effectiveness of offering products for the teenage market in our current stores versus opening separate stores targeted directly to this market, let's distribute questionnaires to current shoppers and solicit their opinions, set up some focus groups with plus-size teens, and locate any relevant secondary research."
A. develop the research plan
B. collect relevant information
C. develop findings and recommendations
D. take marketing actions
E. define the problem
Answer: B
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On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $28,000. A total of $2200 was paid for installation and testing. During the first year, Milton paid $3300 for insurance on the equipment and another $610 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $4400. During Year 1, the equipment produced 12,000 units. What is the amount of depreciation for Year 1?
A. $3096 B. $3565 C. $4020 D. $3492
Which of the following statements is not true about the currency of secondary data?
A) The time lag between data collection and publication may be long. B) The value of secondary data is diminished as it becomes dated. C) The data may not be updated frequently enough for the problem at hand. D) All of the above are correct.
If the cash is received before the related goods or services are delivered, which of the following will be recorded?
A. Deferred Revenue, a liability. B. Pre-earned Revenue, which increases Retained Earnings. C. Accounts Receivable, an asset. D. Service Revenue, which increases Retained Earnings.
According to the ____________________, nonbusiness assets and liabilities are not included in the business entity's accounting records.
Fill in the blank(s) with the appropriate word(s).