Timing is an important element of markdowns. Those retailers who take a markdown as soon as sales fall off are most likely doing so to ________.
A. react to the entry of a new competitor
B. free up valuable selling space and cash
C. placate dissatisfied customers
D. create an image as a cutting edge retailer
E. enhance customer perceptions of product quality
Answer: B
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Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
A. $2,404.91 B. $2,531.49 C. $2,658.06 D. $2,790.96 E. $2,930.51
Which of the following general business sources of external secondary data provides a path to other sources of secondary data contained in directories or published by professional or trade associations?
A) guides B) indexes and bibliographies C) directories D) nongovernmental statistical data E) conditional data
The main reason that the bank statement cash balance and the company's cash balance do not initially balance is due to timing differences
Indicate whether the statement is true or false
Which of the following statements is INCORRECT concerning the reporting of quantitative data?
a. People are usually more interested in proportions or ratios than in exact numbers. b. When tabulating research results of opinions and preferences, reporting exact statistics to the most accurate decimal point is necessary to avoid distortion in interpretation. c. Common language reduces difficult figures to the "common denominators" of language and ideas. d. Due to changing buying power, dollars are not a good measure of comparison from one year to another.