Salespeople should be evaluated and rewarded only for those activities and outcomes that
A. fall under their control.
B. cut into competitors' sales.
C. generate the most income.
D. increase the number of customers.
E. reduce manufacturing costs.
Answer: A
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Which of the following statements is most consistent with the integrated marketing approach?
A) A good product will sell itself. B) If left alone, consumers are inclined to purchase only inexpensive products. C) All communication to consumers must deliver a consistent message irrespective of the medium. D) In order to succeed, the main focus should be on having an efficient production process in place. E) Online marketing is less important than traditional marketing efforts.
Landfall Navigation began operations in 2020 and provides a one year warranty on the products it sells. They estimate that 20,000 of the 400,000 units sold in 2020 will be returned for repairs and that these repairs will cost $8 per unit. The cost of repairing 16,000 units presented for service in 2020 was $128,000. Landfall should report
a. warranty expense of $32,000 for 2020.
b. warranty expense of $128,000 for 2020.
c. warranty liability of $160,000 on December 31, 2020.
d. no warranty obligation on December 31, 2020, since this is only a contingent liability.
Before having an impact on the culture via a code of conduct or a statement of values, a company must first determine its mission and articulate its mission statement.
Answer the following statement true (T) or false (F)
Which of the following is considered an operating activity on the statement of cash flows prepared using the direct method?
A) dividends paid to stockholders B) sale of merchandise inventory for cash C) payment to purchase equipment D) the receipt of cash from sale of equipment