Answer:
The correct option is D,purchasing equipment by issuing a note payable
Explanation:
Issuing check to pay for equipment purchase,receipt of cash from a customer as well as purchase of inventory on account are all usual transactions that take place regularly within a business ,hence do not require any specialized journals in posting them in the books of account.
However,purchase of equipment by issuing a note a more complex transaction that seldom occur,it is important to reflect in the accounts in a special way in order to draw attention to it that it is a special transaction that should be handled different from other transactions
Final answer:
The transaction that would be journalized in the general journal when specialized journals are used is option D: Purchasing equipment by issuing a note payable. This is because it involves a long-term liability and does not fit into the specific categories of the specialized journals.
Explanation:
When using specialized journals, certain transactions are recorded in specific journals, such as sales journals for sales transactions, purchase journals for inventory purchases on account, cash receipts journals for cash received, and cash disbursements journals for cash paid out. The general journal is typically used for non-routine transactions or those that do not fit into the specific categories of the specialized journals.
In the case of the transactions provided:
A. Purchasing equipment by issuing a check would usually be recorded in the cash disbursements journal.B. Receiving a cash payment from a customer would be recorded in the cash receipts journal.C. Purchasing inventory on account would be recorded in the purchases journal.D. Purchasing equipment by issuing a note payable is a more complex transaction involving a long-term liability and would typically be recorded in the general journal, as it is not a routine transaction that fits into the other specialized journals.Therefore, the correct transaction that would be journalized in the general journal is option D: Purchasing equipment by issuing a note payable.
Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines. The result is that 93 percent of all new pools have the system, and 94 percent of all pool owners buying replacement systems choose Pool Line. Pool Line's competitors have brought suit charging Pool Line with monopolization of the pool cleaning market. Pool Line: A) probably has a monopoly per se because of the 90 percent+ market share figures.B) probably has a valid defense of superior skill, foresight, and industry.C) will owe treble damages to the competitors.D) has probably obtained a monopoly illegally.
Answer:
B) probably has a valid defense of superior skill, foresight, and industry.
Explanation:
Pool Line's competitors bringing suit charging Pool Line with monopolization of the pool cleaning market means pool line probably has a valid defense of superior skill, foresight, and industry to be able to produce cleaning system that is very effective and recommended by all consumer magazines.
When talking about buyer-readiness stage in online lecture, we talked about an advertisement that encourages women to buy rings for themselves. The information provided is targeting which readiness stage? A. Knowledge B. Preference C. Awareness D. Liking E. Conviction 2 points QUESTION 36
Answer:
The correct answer is letter "E": Conviction.
Explanation:
The buyer-readiness stages describe the steps the marketing department perceives customers follow at the moment of engaging in a purchase thanks to an advertisement. Those stages are: Awareness, Knowledge, Liking, Preference, Conviction, Purchase. In the conviction stage, promotions are intended to convince consumers that the product is suitable for them. The advertisement attempts to make consumers feel comfortable with the purchase decision. Then, encouraging women to buy rings for themselves is part of this stage.
Mason's business is making a profit, but he needs to increase his bottom line so that he can invest in his firm's growth. He decides to purchase a business intelligence software package to help him identify ways to grow his company. Which of the following questions could Mason's business intelligence software answer?A) Which of my competitors has the least debt?
B) Which countries would provide the least expensive production facilities?
C) Who are my top 10 revenue generating customers?
D) What new technologies will be available to increase my firm's productivity?
E) Which new markets would be the best for my firm to enter?
Answer:
C) Who are my top 10 revenue generating customers?
Explanation:
Business intelligence software is a type of application designed to retrieve, analyze, and report data for business intelligence to suppport decision making. It can provide information about a firm's internal functions and departments. It does not provide any information about any external processes or parties.
Research suggests that, on average, acquisitions increased the market value of target firms by about ________ percent and ________. A. 50; left the market value of the bidding firms unchanged B. 25; left the market value of the bidding firms unchanged C. 50; increased the market value of the bidding firms by 25 percent D. 25; increased the market value of the bidding firms by 15 percent
Answer:
B. 25; left the market value of the bidding firms unchanged.
Explanation:
Research suggests that, on average, acquisitions increased the market value of target firms by 25% and left the market value of the bidding firms unchanged.
This simply means, a target firm's market value increases by 25 percent as soon as a bidding firm shows interest in acquiring or buying it while the bidding firm' market value remains the same.
An advertisement emphasizes that if a consumer uses a certain deodorant he or she will not offend other people and will not cause problems in the workplace because of bad body odor. What part of the Freudian system is this ad appealing to?
A) the id
B) the superego
C) the anti-ego
D) the ego
Answer:
B) The superego
Explanation:
As per Freud's personality theory, an individual's demeanor has many facets which are:
Id which are primitive instincts comprising of the inherent personality traits. It is that part of the personality which is unconscious and directly and instantly responds to needs, urges, wants and desires. This is also the part which defines aggression in a personality.Ego develops and serves as mediation between Id and the real world. Ego is responsible for finding out realistic and moral ways of satisfying the demands of the id, taking into account the social consequences.Superego: It controls the impulses of id which are unacceptable to society and turns ego towards moralistic conduct and to yearn for perfection.In the given case, the advertisement emphasizes upon not offending people at workplace by bad odor and thereby avoid problems. Thus, the advertisement appeals to the superego part of the Freudian system.
Northwestern Lumber Products currently has 18,500 shares of stock outstanding. Patricia, the financial manager, is considering issuing $141,000 of debt at an interest rate of 6.8 percent. Given this, how many shares of stock will be outstanding once the debt is issued if the break-even level of EBIT between these two capital structure options is $67,000?
Answer:
The number of outstanding shares of stock is 2647.44
Explanation:
In this question, we are asked to calculate the number of shares of stocks that will be outstanding once the debt is issued.
We proceed as follows;
Firstly we must know that the Break even EBIT is the EBIT where EPS plan I = EPS plan II
Mathematically;
EBIT*(1-tax rate)/shares = (EBIT-interest rate*debt)*(1-tax rate)/Shares after repurchase
Inputing the values, we have ;
67000*(1-0)/18500=(67000-0.068*141000)*(1-0)/Shares after repurchase
Shares after repurchase = 15852.56
Mathematically;
Shares outstanding = old shares - Shares after repurchase = 18500-15852.56=2647.44
Final answer:
The number of shares of stock outstanding will be 18,500 after the debt is issued.
Explanation:
Using the given information, the total number of shares of stock outstanding can be calculated. The break-even level of EBIT is $67,000, and the interest expense on the debt can be found using the formula:
Interest Expense = Debt amount × Interest Rate
Substituting the values given:
Interest Expense = $141,000 × 6.8% = $9,588
At the break-even level of EBIT, the company's earnings will cover the interest expense. So, the number of shares of stock outstanding will remain the same:
Shares of Stock Outstanding = 18,500
Therefore, the number of shares of stock outstanding will be 18,500 after the debt is issued.
The price that a company charged for a basketball hoop is given by the equation where x is the number of hoops that are produced, in millions. It costs the company $30 to make each basketball hoop. The company recently reduced its production to 1 million hoops but maintained its profit of 15 million dollars. Approximately how many basketball hoops did the company previously produce to make the same profit?
Answer: 1.3 million
because i know
Answer:
1.3 million hoops
Explanation:
took the test
The country of Doomsville is currently in a recession. The government of Doomsville, in an effort to maintain its tax revenues in a time when incomes are falling, decides to increase the tax rate. Would this policy help or hurt the recession?
a) The policy would likely help Doomsville recover faster.b) The policy would likely make Doomsville’s recession worse.c) The policy would likely have no effect on Doomsville’s economy.d) The policy would have an unknown effect on Doomsville’s economy.
Answer:
Option "B" is the correct answer to the following answer.
Explanation:
It is generally considered appropriate to use higher policies such as fiscal expansion or monetary expansion to control the recession.
By continuously increasing the tax rate, the level of disposable income will be reduced considerably due to which the overall consumption level of the economy will also be reduced drastically, as a result of which this policy will make the situation of Doomsvile even worse, so option b is The correct answer.
At the current steady state capital-labor ratio, assume that the steady state level of per capita consumption, (C/N)*, is greater than the golden rule level of steady state per capita consumption. Given this information, we can be certain that...A. an increase in the capital-labor ratio will cause an increase in (C/N)*B. the capital labor ratio will tend to increase over timeC. a reduction in the saving rate will have an ambiguous effect on (C/N)*D. the capital labor ratio will tend to decrease over timeE. a reduction in the saving rate will cause a decrease in the steady state level of per capita consumption ((C/N)*)
Answer:
C) a reduction in the saving rate will have an ambiguous effect on (C/N)*
Explanation:
The steady state consumption refers to the difference between how capital wears out or depreciates vs total output. In order to keep a steady state consumption, the savings rate (which equals investment) must be enough to replace any worn out or completely depreciated capital.
Since the consumption rate is already higher than the steady state consumption, the effect of a decrease in the savings rate is ambiguous. Every dollar earned by a household is either spent or saved, and in order for savings to decrease, spending must increase.
But in this case, the spending level is already too high. A decrease in savings should increase consumption but the effects of the increase in the capital labor ratio and the per capita consumption are not certain.
As manager of release of information, you supervise an employee who has been a correspondence clerk for many years. Her performance has gradually diminished and has become substandard. What method would most likely prove to be ineffective in assisting this employee in improving her performance?
Answer:
The least likely method of assisting the correspondence clerk to improve her performance would be sanctions and threat of dismissal.
Explanation:
As manager who has supervised the clerk for many years and only recently noticed a drop in performance, sanctions and threat of dismissal would be the least effective method of improving her performance.
The drop in performance levels of the clerk might be due to different factors: it could be as a result of fatigue and burnout and she only needs a few weeks of vacation, it could be financial or family problems or work related stress.
The best way to assist the clerk is by talking to her and trying to find out if she has any underlying problems and see if they can be dealt with. Dialogue is very powerful as you can discover things that the employee would ordinarily not tell you about.
Threats of dismissal and sanctions would be counter productive because it will add to her growing list of problems, thereby increasing stress and severely limiting performance.
Firm X just paid $5/share dividend. We expect the dividend to grow annually at a constant rate 3%. The current stock price is $100. If firm X issues new equity, the new shares would sell at $98/share and the firm also needs to pay investment banks $3/share flotation cost. What is the cost of retained earnings? g
Answer:
Cost of Earnings = (Dividends per share for next year ÷ Current market value of the stock) + Dividend growth rate
= 8.42 %
Explanation:
See Attachment
Biff has just seen an ad in the paper for a new Nissan pickup truck for $15,000. He hurries to his local dealership but is disappointed to learn that the truck is already beensold. "Don't worry," the salesman tells him, "I can make you a terrific deal on a different truck for only a few dollars more per month." Which of the following tactics is the salesman using?A. Door in the faceB. Bait and switchC. LowballD. Disrupt then reframe
Answer: B. Bait and switch.
Explanation: Bait and switch is a fraudulent sale tactics aim at deceiving customers by placing advertisements for a low price of a product "bait", but when the customer gets there to buy the product it become unavailable then another product with higher price is introduced to the customer " switch".
In this case Biff was made to believe he can get a Nissan for $15,000 but on arrival the salesman claims product sold out and then introduced him to a different truck with higher price which was the salesman plan initially.
1. Assume the value of a market basket for a given year is $550 and the same basket in the base year was $500. Calculate the CPI. 2. If the CPI for a given year is 90 then the change in prices between that year and the base year is 3. Fill in the blanks in the chart below. Start with 2009 as the base year then recalculate with 2010 as the base year.
Answer:
current price of the CPI basket = $550
base year's price of CPI basket = $500
CPI = (cost of basket in current year / cost of basket in base year) x 100
1) the CPI for the current year = ($550 / $500) x 100 = 110
2) if the CPI decreased to 90, it means that the economy is suffering from deflation or the decrease in the general price level. It would take a 10% decrease in the price level (deflation) to reach a CPI of 90.
3)
nominal GDP real GDP GDP deflator
$100 billion $80 billion 125
$200 billion $100 billion 200
$240 billion $200 billion 120
$300 billion $200 billion 150
$100 billion $80 billion 125
The CPI is calculated by dividing the current year's market basket value by the base year's market basket value and multiplying by 100. A CPI of 90 indicates a 10% decrease in prices compared to the base year. To change the base year, the same calculation process is followed with the new base year's value.
Explanation:To calculate the Consumer Price Index (CPI) when the value of a market basket in a given year is $550 and the basket in the base year was $500, you divide the current year's basket value by the base year's basket value and multiply by 100. This gives you a CPI calculation of ($550/$500)*100, which equals 110. This index indicates that there has been a 10% increase in the price level since the base year.
When the CPI for a given year is 90, it means that prices are 10% lower compared to the base year since the CPI is less than 100. This represents deflation or a decrease in the general price level.
To recalibrate the index when changing the base year, you follow the same process using the new base year's basket value. Economists use a base year and a basket of goods and services as a reference to compute price changes over time. If we select 2010 as the new base year with an arbitrary value, we would recalculate the CPI for all other years relative to 2010's market basket value ensuring it has a CPI of 100.
Learn more about the Consumer Price Index (CPI) here:https://brainly.com/question/8416975
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GlobeTrekkers, Inc. has employees all over the world. Employees have face-to-face meetings on occasion, but they communicate with each other mostly via conference call, email, and webcasts. These employees ________.
Answer:
Form a virtual team
Explanation:
Virtual team can be defined as a group of workers or employees who work together with a common purpose but are separated by location. Virtual team can also be called "remote team" or "geographically dispersed team", or "telecommuting".
It refers to a group of people working on similar project but are situated in different locations of the world. Virtual team is made possible with the advent of technology. All members of the team communicate with the use of technology such as video conference call, email, webcasts and other forms of technological communication.
Virtual team does not require the physical presence of the team members since communication is done online. This allows employees some form of freedom and shift between jobs(that is have more than one job). It allows workers have time to handle their personal matters.
Employers of virtual team workers also benefit from reduced cost of operation. The employer doesn't have to provide offices for each staff members.
Answer:
The employees are a virtual team.
Explanation:
A virtual team is made up of a group of individuals who are dispersed in different geographic locations but can effectively work together on a project from their different locations. In other words, they can all work together or collaborate on a project from a distance (without gathering at a geographical location).
The work of a virtual team is made possible through communication technology like fax, email, voice or video conferencing services (for face to face meeting) as well as webcast.
A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $30,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid ______ in nominal terms and ______ in real terms than the 2005 graduate's job.
Answer:
D. Less; Less
Explanation:
Given that
CPI in 2005 = 1.68
Wage in 1972 = 7200
Wage in 2005 = 30,000
CPI in 1971 = 0.418
Therefore,
Real wage in 1972 = wage in 1972/CPI in 1972
= 7200/0.418
= $17,224.88
Real wage in 2005 = wage in 2005/CPI in 2005
= 30000/1.68
=$17,857.14
Thus, from the given data 1972 job paid LESS in nominal terms (7200 < 30000) and LESS in real terms (17,244.88 < 17,857.14) than the 2005 job.
Payments for which the government receives neither goods nor services in return; include Social Security, unemployment compensation, welfare, aid for people with disabilities, child care, foster care, and adoption assistance.True or False?
Answer:
The answer, in this case, would be True.Explanation:
Social security,unemployment benefits,disability aid,child care expenses,adoption assistance etc. are all parts of the the public sector or government providence to the general citizens or common people of the country.All of these public sector payments or expenditures are meant for the overall social and economic welfare of the common people or citizens in general.These payments are commonly classified or identified as transfer payments or unilateral payments/expenditures which implies that these are all one way payments or expenditures and the government does not expect any goods or services in return from the common public for providing the concerned services to them.Much of the transfer payments in the economy are financed by public taxes and financial borrowings by the government.Let's break it down into more technical terms, Demand work like this, it is the prices that the consumers are willing and able to purchase goods and services at, and that brings us to the law of demand which is that the demand and price can vary. Determinants of Demand is a shift that only occurs when one or more of the Determinants of Demand changes. Determinants have five major key points which are?
Answer:
-Income of buyers
-Consumer expectation
-Taste of consumers
-Price of the goods or services
-Price of related goods or services
Explanation:
Income of buyers: When there is a rise in income of buyer then demand would increase. Also when there is a fall in buyer's income, demand would decrease.
Consumer expectation: If consumers perceive that there would likely be an amount increase in price of certain commodities then demand for such commodities would increase now.
Taste of consumers: If the taste, preference or emotions of buyers changes in favour of a product then there would be increase in demand for such product and vice versa.
Price of the goods or services: The higher the price of a product, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Price of related goods or services: When there is an increase in the price of goods that are related, demand for the goods with lower price will increase
In the 1930’s "bad psychology" in the business sector overwhelmed the attractiveness of lower interest rates and caused businesses to avoid borrowing money for Investment when they already had too much ___________ relative to AD.
a) money
b) capacity
c) profit
d) none of the above
Answer:
b) capacity
Explanation:
In the 1930's the impact of the bad decision making and the uncertainties in business sectors brought an overwhelming downfall of the interest rates and stopped borrowing of money the decline of the earning capacity. As the period of the great economic recession took place and was called as the great depression that halted the consumer economy and crested suffering in the standard of living,The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000; beginning inventory $160,000; ending inventory $240,000; and gross profit $600,000. Inventory turnover is 6 times per year. What is Wilkens' days in inventory for 2017?
Answer:
Wilkens' days in inventory for 2017 = 60.833
Explanation:
Given:
Sales = $1,800,000
Beginning inventory = $160,000
Ending inventory = $240,000
Gross profit = $600,000
Inventory turnover = 6 times
Wilkens' days in inventory for 2017 = ?
Computation of Wilkens' days in inventory for 2017:
Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover
Wilkens' days in inventory for 2017 = 365 / 6 times
Wilkens' days in inventory for 2017 = 60.833
Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000 30 days after delivery. The revenue for this contract should be:
Answer:
recognized on March 31 after the delivery of the equipment
Explanation:
Revenue is recognized once the recognition criteria is met. These criteria includes;
the cost of the item sold can be measured reliablythe items has been delivered or the service has been renderedGiven that the contract specified a delivery date of March 1.
The equipment was not delivered until March 31 and as such, the revenue for the contract should be recognized on March 31 after the delivery of the equipment.
Higher interest rates would have A. increased profits for firms. B. decreased investment spending by firms and home purchases. C. increased net exports. D. increased inventory spending. The Fed appears to believe that the more "potent multiplier effect" is associated with A. consumer spending on non-durable goods because it is more sensitive to lower interest rates. B. investment spending because it is more sensitive to lower interest rates. C. inventory spending because it is less sensitive to lower interest rates. D. consumer spending on non-durable goods because it is less sensitive to lower interest rates.
Answer:
1.) B. Decreased investment spending by firms and home purchases.
2.) B. Investment spending because it is more sensitive to lower interest rates.
Explanation:
Higher interest rate tends to moderate economic growth, by increasing the cost of borrowing, reduce disposable income and therefore limit the growth in consumer spending, this tendency reduces inflationary pressures and cause an appreciation in the exchange rate.
Changes in interest rates can have both positive and negative effect s on the markets. Central banks often change their target interest rates i response to economic activity: raising rates when the economy is overly strong, and lowering rates when the economy is sluggish.
Lowering rates makes borrowing money cheaper. This encourages consumer and business spending and investment and can boost asset prices.
Lowering rates, however, can also lead to problems such as inflation and liquidity traps, which undermines the effectiveness of low rates.
assey Corporation purchased a piece of land for $50,000. Massey paid attorney's fees of $5,000 and brokers' commissions of $4,000 in connection with the purchase. An old building on the land was torn down at a cost of $2,000, and proceeds from the scrap were $500. How much is the total cost of the land
Answer:
$60,500
Explanation:
The cost of the land to be recorded consist of the cost of the land itself and other associated cost with the purchase.
The amount realized as income in the process is deducted from the cost.
Cost of land
= $50,000 + $5,000 + $4,000 + $2,000 - $500
= $60,500
Which of the following techniques can be used to narrow options for increased decision-making effectiveness? A. Applying different analytical approaches. B. Using weighted voting or multivoting techniques. C. Agreeing on a set of win/lose techniques. D. Conducting brainstorming sessions.
Answer:
A. Applying different analytical approaches.
Explanation:
In decision making, it is advisable to apply different analytical approaches. In doing this, you are able to know the pros and cons of the different approaches.
This will thus help one narrow options for increased decision-making effectiveness.
Jaymes corporation produces high-performance rotors. it expects to produce 69,000 rotors in the coming year. it has invested $11,040,000 to produce rotors. the company has a required return on investment of 20%. what is its roi per unit?
Answer:
The roi per unit is $ 32
Explanation:
In order to calcuate the roi per unit, first we have to calcuate the income.
Income= Investment×return on investment
=$11,040,000×20%
=$2,208,000
After having calculated the income we are then in conditions to calculate the roi per unit.
roi per unit= Income ÷ units produced
=$2,208,000÷ 69,000
= $ 32 per unit.
The ________ is the fraction of earnings reinvested in the firm.
a. dividend payout ratio
b. dividend payout ratio and plow back ratio
c. retention rate plow back ratio retention
d. rate or plow back ratio
Answer:
C, retention rate and plow back ratio
Explanation:
Retention rate can simply be said to be the ratio between retained earning and earnings at risk; i.e the rate of earnings that one is assured of as against the one you're not assured of. The same can be said about plow-back ratio. The plow-back ratio can be defined as the ratio of how much earnings are retained after dividends have been paid out.
This retained earnings are then reinvested into the firm to yield another dividends and the cycle continues.
Cheers.
Halo Beverages has two divisions, North and South, which share the common costs of the company's computer support. The total cost of computer support is $4,000,000 a year. The North Division fields 3,800 help desk calls per year and uses 18,200 hours of network time. The South Division fields 4,200 desk help calls per year and uses 21,800 hours of network time. What is the amount of cost that will be allocated to the North Division if fixed computer support costs of $2,500,000 are allocated on the basis of number of calls and the remaining costs (all variable) are allocated on the basis of number of hours on the network
Answer: $1,870,000
Explanation:
Total cost of computer support = $4,000,000
North division = 3800 calls per year
North division = 18,200 hours network time
South division = 4200 calls per year
South division = 21,800 hours network time
Total amount allocated on basis of number of calls = $2,500,000
Tot allocated on basis of network time =
$4,000,000 - $2,500,000 = $1,500,000
Total amount allocated to North division =
[(2,500,000/(3800+4200)) × 3800] + [(1,500,000 / (18,200+21,800)) × 18,200]
(312.5 × 3800) + (37.5 × 18200)
$1,187,500 + $682500 = $1,870,000
$1,870,000
Crowding out is a phenomenon: a where an increase in government's budget deficit causes the overall investment spending to fall. b where an increase in government spending causes an equal decrease in consumption spending. c where overproduction in the goods market leads to a sharp drop in the aggregate price level. d where an increase in imports causes the overall domestic production to fall. e where an increase in government's budget surplus decreases the overall investment spending.
Answer:
A. where an increase in government's budget deficit causes the overall investment spending to fall.
Explanation:
Crowding out is a situation in an economy that describes where consumption of goods and services falls and business investments are decreased/fall because government spending goes up and deficit financing takes up all available financial resources thereby causing interest rates to go up.
In other words increased government spending causes private sector spending to fall.
Answer:
A
Explanation:
Crowding out implies an increase in interest rate , less borrowing and less private investment as a result of government's budget deficit.
It is a phenomenon where an increase in government's budget deficit cause the overall investment to fall as it demands for borrowing to fund budget.
This can also be explained as when government's involvement in a particular sector of the market affects the other sector of the market.
Which of the following is true of open-ended questions?a. These questions are designed to go beyond generalized fact finding and uncover prospects' perceptions and feelings regarding existing and desired circumstances and potential solutions. b. These questions limit the customer’s response to one or two words and are used to confirm or clarify information gleaned from responses to previous questions. c. These questions ask customers to choose from two or more options and are used in selling to discover customer preferences and move the purchase decision process forward. d. These questions are designed to let customers respond freely and encourage the customer’s thought processes. e. These questions are designed to penetrate below generalized or superficial information to elicit precise details for use in needs discovery and solution identification.
Answer:
a. These questions are designed to go beyond generalized fact finding and uncover prospects' perceptions and feelings regarding existing and desired circumstances and potential solutions.
Explanation:
In a situation where more information is obtained from the answers provided by people in their words compared to closed ended or multiple choice questions, it is termed open ended questions.
Open ended questions gives respondents the freedom to answer questions as they deemed fit but also requires them to provide useful information in order to achieve the purpose of the questions.
People make use of questionaires, multiple choice questions when conducting surveys but open ended questions can be used to get feedback from respondents on the questions they were asked previously and when the question being asked does not have response that fits in a category.
Location-based software and applications can help bring a special offer to customers right on their smartphones when they are in the process of making a purchase decision.This best represents which aspect of the 4E framework of social media marketing? A. Experience B. Excite C. Energize D. Educate E. Engage
Answer:
B. Excite
Explanation:
The 4E framework of social media marketing involves:
Excite - which deals with exciting customers with relevant offers.
Educate - which involves informing them about product and services offerings.
Experience - which involves helping customers experience product or services either directly or indirectly
Engage - which involves engaging customers on a common platform.
In this scenario however, the aspect of 4E explained is Excite. By bringing special offers when customers are about making purchase decision, you're exciting the customer about relevant offers on the taking.
AutomatedFry Inc. is the leading manufacturer of ventless deep fryers. It has developed a new high-capacity fryer. To identify the prospective clients for its latest product, it sends out brochures to thousands of food-service managers along with a detachable card that the managers can use to request more information. Based on this information, AutomatedFry Inc. is involved in the _____ step of the selling process.
Answer:
Lead generation.
Explanation:
Selling process can be defined as the steps which must be taken by a sales representative when selling a particular product. The selling process begins with identification of potential customers that are willing to purchase the product.
Lead generation is the process of getting customers to buy a product, It involves creating an awareness of the product. This is the initial stage of a selling process.
Lead generation begins with identifying the group of customers to sell to, marketing your products through different mediums, maintaining constant communication with the customers.