Which of the following circumstances are best suited for the use of personal selling?
A) when the products used are simple and easy-to-use
B) when there is minimal risk involved in buying or using the products
C) when the market has fewer and larger sellers
D) when the products being marketed are inexpensive and easily available
E) when prospective customers are spread across a wide geographic area
C
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Firms recognize deferred tax assets only to the extent that they expect to generate sufficient taxable income to realize the assets in the form of tax savings in the future. U.S. GAAP requires use of a deferred _____ to reduce the balance in the _____ account to the amount the firm expects to realize in tax savings in the future
a. tax asset valuation allowance; Deferred Tax Asset b. tax expense; Deferred Tax Asset c. tax asset valuation allowance; Deferred Tax Liability d. tax expense; Deferred Tax Liability e. tax expense; Deferred Tax Revenue
Under Article 2 of the UCC goods sold by merchants may be covered by a warranty. An example of an express warranty would be a warranty of
a. fitness for a purpose. b. merchantability. c. conformity to the description of the purchased goods. d. conformity to those goods purchased according to usage in the trade.
In his recording "Nuthing Nu," O'Reilly uses the melody of a song written by Pete. O'Reilly did not obtain Pete's permission. This is A) copyright infringement
B) patent infringement. C) trademark infringement. D) none of the choices.
Using the percentage of sales method of forecasting,
A) only asset accounts increase or decrease proportionally with sales. B) all asset and liability accounts increase or decrease proportionally with sales. C) accounts payable and accrued expenses are the only liabilities that increase or decrease proportionally with sales. D) all balance sheet accounts increase or decrease proportionally with sales.