Compared to the other classifications of consumer products, shopping products are:
A. widely available so they need little or no promotion
B. usually less expensive than convenience products
C. purchased without significant planning
D. usually more expensive than convenience products and are found in fewer stores
E. purchased immediately after the consumer realizes he or she needs them
Answer: D
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Markup pricing is popular because when all firms in the industry use this pricing method, prices tend to be similar, so price competition is minimized
Indicate whether the statement is true or false
All of the following are factors that have been associated with high levels of fraud except:
a. participative management. b. high turnover. c. poor training and promotion opportunities. d. unreasonable budget expectations.
Forty percent of a house painter's business is exterior work and the other sixty percent is interior
The average exterior paint job takes 30 hours of labor and $500 of paint and primer, but the average interior job takes only 6 hours of labor and $80 of paint and primer. If he gets 25 service calls for the coming month and 30 calls for the month after that, which of the following resource requirements is correct? A) The painter has supply costs of greater than $13,500 but less than $13,600 for the next two months. B) The painter has a labor demand of greater than 800 hours but less than 850 hours for the next two months. C) The painter has supply costs of greater than $13,400 but less than $13,500 for the next two months. D) The painter has a labor demand of greater than 850 hours but less than 900 hours for the next two months.
Auditors' Liability to Third Parties. Max Mitchell, a certified public accountant and president of Max Mitchell & Co, went to First Florida Bank, N.A., to negotiate a $500,000 unse-cured line of credit for C.M. Systems, Inc The audited financial
statements that Mitchell gave the bank did not indicate that C.M. Systems owed any money. In fact, the company owned at least $750,000 to several banks. First Florida approved the loan, but C.M. systems never repaid it. The bank filed a suit in Florida state court against Mitchell and his firm, alleging negligence. Because there was no privity between Mitchell and the bank, the court granted Mitchell sum-mary judgment. The bank appealed. On what basis might the appellate court reverse?