Which of the following statements about sales promotion is true?
A. It is "free," like publicity.
B. It is any paid form of nonpersonal presentation of goods or services by an identified sponsor.
C. It can complement a firm's personal selling and mass selling efforts.
D. It involves direct spoken communication between sellers and potential customers.
E. It consists of personal selling and mass selling.
Answer: C
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When preparing a flexible budget for factory overhead costs, what will occur to fixed costs (on a per-unit basis) as production increases?
a. Fixed costs per unit will increase. b. Fixed costs are not considered in flexible budgeting. c. Fixed costs per unit will decrease. d. Fixed costs per unit will remain unchanged.
Orson signs a check "pay to the order of Painless Dental" drawn on Orson's account in Quantum Bank. To impose liability on Orson if the bank dishonors the check, Painless Dental should present it for payment within
a. one year. b. six months. c. ten days. d. thirty days.
Strategic managers use more information from outside the organization than do operations managers.
Answer the following statement true (T) or false (F)
Which of the following best describes the Net Present Value rule?
A) Take any investment opportunity where the net present value (NPV) is not negative; turn down any opportunity when it is negative. B) Take any investment opportunity where the net present value (NPV) exceeds the opportunity cost of capital; turn down any opportunity where the cost of capital exceeds the net present value (NPV) C) When choosing among any list of investment opportunities where resources are limited, always choose those projects with the highest net present value (NPV). D) If the difference between the present cost of an investment and the present value (PV) of its benefits after a fixed number of years is positive the investment should be taken, otherwise it should be rejected.