Adjustments to the different forms of pay competitors use and the relative importance they place on each form occur more frequently than adjustments to overall pay level.
Answer the following statement true (T) or false (F)
False
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How does competition influence market planning and budgeting?
A) Market planning and budgeting must be prepared in light of the competitive level in the market. B) Planning and budgeting is not affected for companies with minor positions in foreign markets competing against entrenched companies in the same market. C) Competitive moves are not important as a variable in international market planning and budgeting. D) The more competitive a target market is, the easier it is to prepare market planning and budgeting.
Marsh Corporation borrowed $90,000 by issuing a 12%, six-month note payable, all due at the maturity date. After one month, the company's total liability for this loan amounts to:
a. $91,800 b. $90,900 c. $90,450 d. $90,000
Firms that are temporarily short of cash and unable to borrow from usual sources can convert accounts receivable into cash by selling accounts receivable to a bank or financing company. This is called
a. assigning accounts receivable. b. pledging accounts receivable. c. factoring accounts receivable. d. all of the above. e. none of the above.
Insurance policies often contain a covenant of good faith and fair dealing. Even if the clause is not in the policy, often courts will imply it. Explain the covenant of good faith and fair dealing and provide an example illustrating when an insurance company might breach this covenant