Answer the following statement(s) true (T) or false (F)
The success of corporate entrepreneurship depends on the entrepreneurs within the firm.
ANSWER: True
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All of the following are true of the gross profit ratio except:
a. gross profit is a function of the markup percentage. b. the gross profit ratio is calculated by dividing gross margin by net sales. c. a revenue-related fraud scheme that overstates sales will result in an increase in this ratio. d. the gross profit ratio will increase if cost of goods sold is overstated.
On a common-size income statement, operating expenses should be stated as a percentage of:
A) sales revenue. B) net income. C) operating income. D) total assets.
The shopper who says to himself, "I've waited too long in this line. I don't really need to buy this product today," and leaves the store is an illustration of which element of arrival behavior?
A) random arrival B) renege C) random departure D) balk E) frustration
Assume that Tom rents an apartment from Larry with the understanding that either can terminate the lease by giving the other 30 days notice. What is the name of this type of lease?
a. tenancy for years b. periodic tenancy c. monthly tenancy d. fixed-period tenancy