The Federal Trade Commission enforces laws against deceptive advertising. Briefly discuss three types of deceptive advertising that would be considered illegal
What will be an ideal response?
In general, advertisers must have documented proof of any claims made in an advertisement. In other words, they cannot make unfounded exaggerated claims of product superiority or efficacy that can be proven false. Marketers cannot advertise an inflated retail price along with a discount. Instead, any advertised "retail price" must be the prevailing price for the product in the retailer's geographic area. Finally, so-called bait-and-switch tactics are illegal. This refers to the practice of advertising a low-priced item with no intention of actually offering it for sale; instead, retailers switch customers to a higher-priced item once they enter the store.
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Which of the following statements does not describe an essential characteristic of a liability?
A) A liability is a present obligation that will be settled by a probable future transfer or use of assets. B) The obligated entity has little or no discretion to avoid the future sacrifice. C) The identity of the recipient must be known to the obligated party. D) The transaction or event obligating the enterprise has already occurred.
Which of the following is a reason for not using the specific identification method?
A) It is impractical to keep track of the purchase and sale of individual items. B) Deciding which of many identical items sold would be arbitrary. C) Deciding whether lower or higher-priced identical items sold could be a means of manipulating income. D) All of these are reasons for not using the specific identification method.
Which of the following would indicate that a person is actively listening?
a. The interviewer reflects back or paraphrases what the person just said. b. The interviewer engages in normal conversation, giving opinions as well as asking for them. c. The interviewer interrupts the interviewee in order to ask further questions. d. The interviewer stays one step ahead of the conversation, anticipating the next question.
Taylor's toy shop bought a very large inventory of the newest superhero action figure. Because a new movie was supposed to come out featuring the superhero, Taylor didn't anticipate a problem selling the toy. However, production on the movie was halted and now Taylor is having a hard time selling the action figure. This represents what type of inventory?
A. obsolete B. seasonal C. anticipative D. cyclical E. pipeline