What is a marketing audit, and what is its purpose?
What will be an ideal response?
A marketing audit is a comprehensive, systematic, independent, and periodic examination of a company's or business unit's marketing environment, objectives, strategies, and activities. It aims to determining problem areas and opportunities and recommending a plan of action to improve the company's marketing performance.
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Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000 . They agree to salaries of $12,000 and $18,000 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will Singer's share of the income be if the income for the year is $50,000?
a. $24,000 b. $22,000 c. $16,000 d. $23,400
How would a private college or university report its estimate for uncollectible tuition and fees on its statement of activities?
A. A direct reduction of Tuition and Fees-Unrestricted. B. A contra-revenue account titled Provision for Doubtful Accounts. C. An operating expense titled Bad Debt Expense. D. An operating expense titled Provision for Doubtful Accounts.
The budgeting function begins with the preparation of the direct materials purchases budget
Indicate whether the statement is true or false
________ is the category of business-to-business products that refers to the products an organization uses in its daily operations
A) Raw materials B) Component parts C) Equipment D) Processed materials E) MRO products