Discretionary income refers to
A. the total amount of money made by a single individual during his or her lifetime.
B. the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
C. the money that is spent for necessities or charitable causes that is exempt from taxation.
D. the money deducted from a person's paycheck to pay for federal, state, and local taxes.
E. the money that remains after paying for taxes and necessities.
Answer: E
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In contrast to the total product and variable cost concepts used in setting seller's prices, the target cost approach assumes that:
A) a markup is added to total cost B) selling price is set by the marketplace C) a markup is added to variable cost D) a markup is added to product cost
Why are marketing costs high in the introductory stage of the product life cycle?
a. Cutthroat competition during the introductory stage can lead to price wars. b. Sales increase rapidly during the introductory stage, requiring greater investment for marketing. c. High dealer margins are often needed to obtain adequate distribution. d. Product and manufacturing costs need to be identified and corrected.
You purchased 3,000,000 Indian rupees in London at an exchange rate of 54.86 to the dollar and
simultaneously sold the rupees in Bahrain at an exchange rate of 55.12 to the dollar. What is the name for such a transaction? A) trend trading B) exchange rate hedging C) arbitrage D) currency swapping
A bailment is different from a gift because A) a gift requires consideration, but a bailment does not
B) a gift requires delivery, but a bailment does not. C) in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee. D) a gift is always a contract, but a bailment is generally not a contract.