What are the two operating arms of the Advertising Self-Regulatory Council (ASRC)? Briefly explain the function of each.
What will be an ideal response?
The ASRC has two operating arms: the National Advertising Division (NAD) of the Council of Better Business Bureaus and the National Advertising Review Board (NARB). The NAD monitors advertising practices and reviews complaints about advertising from consumers and consumer groups, brand competitors, local Better Business Bureaus, trade associations, and others. The appeals board for NAD decisions is the NARB, which consists of a chairperson and 70 volunteer members (40 national advertisers, 20 agency representatives, and 10 laypeople).
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Which of the following is NOT a characteristic of interpersonal dialogue?
A. unscripted and unrehearsed responses B. openness to risk C. focus on a specific outcome D. tentativeness about the feelings of the other party
Incoterms describe three issues that arise in a commercial transaction. Which of the following is not one of these issues?
A. Which party covers the costs. B. Which party does which tasks. C. Which party's jurisdiction is used to resolve conflicts. D. Which party bears the risk.
Obtaining a specialty product involves a considerable amount of comparison activity.
Answer the following statement true (T) or false (F)
Minden Corporation estimates that the following costs and activity would be associated with the manufacture and sale of product A: Number of units sold annually 40,000 Required investment$800,000 Unit product cost$25 Selling and administrative expenses$600,000 ?If the company uses the absorption costing approach to cost-plus pricing described in the text and desires a 15% rate of return on investment (ROI), the required markup on absorption cost for Product A would be closest to:
A. 60% B. 12% C. 15% D. 72%