With referral programs, firms estimate word-of-mouth by monitoring ________
A) search engine hits
B) blogger comments
C) podcast usage
D) customer inquiries
E) coupon redemptions
E
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Most audit firms use a schedule to accumulate the known and projected misstatements and the carryover effects of prior-year uncorrected misstatements. Which of the following statements regarding this process is false?
a. Adjustments made to correct the financial statements are referred to as booked. b. Possible adjustments to the financial statements that are left uncorrected are referred to as waived. c. Tax effects are not shown on schedules of correcting errors. d. The nature of the misstatement, as well as the quantitative amount, is considered in the judgment of materiality.
Clearwater Hampers is a small British company that sells luxury food and drink in various combinations in picnic hampers. Food and wine are seen as classic, fail-safe gifts in a market where present-buying is increasingly tricky. Corporate customers, both in the United Kingdom and abroad, are important to the business. Clearwater has had several orders for more than a quarter of a million dollars. According to the company's leading salesperson, Peter Austin, "We have lots of repeat corporate customers as a result of the importance we place on getting the hampers out on time and filled with the right products." Peter Austin is extremely successful and the major reason for his success is the way he handles objections. He believes that effectively handling objections is the key to success in
a sales profession. Today he is calling the CEO of Diamonite to make an important sales presentation. Austin is confident of handling the objections as he has prepared for the call.Austin asks, "Is there any reason why you think your customers would not enjoy a Clearwater Hamper?" Austin is: A. using the FAB method to postpone objections. B. forestalling the objection. C. assuming that the CEO has no objections. D. using the SPIN sequence. E. smoking out hidden objections.
Which of the following constitutes a case of anticipatory breach?
A) It occurs when a contracting party fails to inform the other party in advance about nonperformance of his or her contractual duties when due. B) In case of anticipatory breach, nonbreaching party's obligations under the contract are not discharged. C) The nonbreaching party must wait until performance is due to sue the breaching party. D) Anticipatory breach can be derived from the conduct of the breaching party without being expressly stated by that party.
Which of the following is true of a joint venture corporation?
A) The joint venturers are personally liable for debts of the joint venture corporation. B) Joint venturers do not owe each other fiduciary duties as a venture is a single business transaction. C) The management rights of joint venturers in a joint venture are divided in ratio of their capital investment. D) Each joint venture is liable for the debts and obligations of the joint venture.