Word-of-mouth can be measured by surveying existing customers to determine how they first learned about a firm's product or service
Indicate whether the statement is true or false
TRUE
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Employees at Atkins Inc. are frustrated with their manager, Kyle, who does not believe in providing feedback because he thinks it's a waste of time. His employees argue that they do not know how to hone their skills if they are not told what areas they should work on and what areas are satisfactory. Which statement would strengthen the employees' arguments?
A. Evaluating each employee is a herculean task that would require a lot of time and effort. B. Employees who receive feedback gain more clarity on their roles and how they fit within an organization. C. Kyle only hires employees who have the potential to follow through on his high expectations. D. Employees ought to evaluate themselves because self-assessment is the best type of feedback. E. Feedback is not an effective mechanism because employees can choose to reject the constructive information.
Which of the following is true of improving cost efficiency of the marketing process?
A) If a business does not make products available at customers' preferred points of purchase, it lowers the cost of the transaction. B) For undifferentiated products, customers' transaction costs are high even when availability is unrestricted. C) The more undifferentiated a product is, the greater its perceived value. D) Customer value can be increased by lowering the cost of reaching customers. E) The general assumption is that the more intermediaries a channel system has, the lower the total cost of purchase.
Which of the following is a question that the auditor would expect to find on the production process section of an internal control questionnaire?
A. Are all releases by storekeepers of raw materials from storage based on approved requisition documents? B. Are vendors' invoices for raw materials approved for payment by an employee who is independent of the cash disbursements function? C. Are signed checks for the purchase of raw materials mailed directly after signing without being returned to the person who authorized the invoice processing? D. Are details of individual disbursements for raw materials balanced with the total to be posted to the appropriate general ledger account?
If a company uses an actual cost system, inventory records can first be updated from the
a. vendor invoice b. purchase order c. receiving report d. purchase requisition