Are a product mix and a product line the same thing? Why or why not?
What will be an ideal response?
No, a product line is a group of similar products that differ only in relatively minor characteristics. They are often products that are related in the way they are produced, marketed, or used. A product mix consists of all the products a firm offers for sale--likely with little or no relationship among them.
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The responsibility report for a revenue center would compare ________.
A) actual costs to budgeted costs B) actual revenues to budgeted revenues C) actual revenues and costs to budgeted revenues and costs D) actual profits to budgeted profits
The ________ doctrine states that courts should apply the law of the state that has the closest and most real connection with the dispute
A. act of state B. vested rights C. most significant relationship D. governmental interest
Pierce's new business rocketed upwards in its first year, but its progress stagnated thereafter. His mentor noted that Pierce was having a hard time "letting go"-giving his two best employees responsibility to take on assignments that they were obviously ready to handle. In fact, Pierce was needlessly and constantly "looking over their shoulder" to check their work. As evidenced by these reasons, Pierce's entrepreneurial venture was being threatened by his failure to
A. go public. B. delegate. C. use formal control systems. D. plan. E. properly use funds.
Which of the following is a requirement for an involuntary Chapter 7 bankruptcy petition?
A)The debtor must owe at least $150,000 in unsecured claims to the creditors who file. B)The debtor must have at least three creditors sign the petition if the debtor has 12 or more creditors. C)The creditors must have tried to help the debtor overcome the financial difficulties. D)The debtor must have a majority of the creditors file the petition.