Trademarks:
a. serve as an index of quality
b. identify the goods or services of a seller
c. provide protection from unscrupulous competitors who want to confuse or deceive customers about their identity
d. all of the above
e. none of the above
d
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Which term describes the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms/industries?
a. competitiveness b. protectionism c. comparative advantage d. absolute advantage
Only the income statement is affected by the allocation of net income in a partnership
a. True b. False Indicate whether the statement is true or false
Well-established skills and competencies that are so entrenched, they prevent a firm from seeing new ways of doing things are known as
a. marketing myopia. b. competence lock-in. c. innovation killers. d. core rigidities. e. knowledge obsolescence.
Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 15% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $38,000 during an accounting period, the amount of income assigned to the two partners would be: Fred BarneyA.$20,500 $17,500 B.$20,000 $18,000 C.$19,000 $19,000 D.$18,100 $19,900
A. Choice A B. Choice B C. Choice C D. Choice D