Answer:
1. False
2. False
3. False
4. True
5. True
Explanation:
1.
Sarbanes-Oxley Act was a federal law that was established by congress to sweep auditing and financial statements for public companies. The main aim for this was to improve the investor confidence by improving reliability in accounting statements. Errors in the financial statements for the public companies were to be minimized following this law especially in the wake of numerous cases of corporate crime. This law was never passed to ensure that investors only invest in companies that will be profitable, since the choice of which company to invest in is exclusively left to the investor. So the above statement is false.
2.
Ethics can be defined as a set of rules and regulation that govern the moral behavior of someone. Ethical standards vary from one region to another since they are majorly cultural, for example; a behavior in the United States can be considered as appropriate while the same behavior in a different place can be inappropriate. Ethical standards are either right or wrong, and the actions are judged on these terms. Ethics don't measure whether a actions are loyal or disloyal, thus the statement is false.
3.
The primary accounting standard setting body in the United States is Financial Accounting Standards Board (FASB). This body is charged with regulating and setting the best standard of accounting practice. The FASB usually constitutes a board whose officials are rigorously assessed. The board members have to be professionals in the field of accounting. Securities and Exchange Commission on the other hand is an independent federal agency with the authority to enforce federal security laws. Thus the statement above is false.
4.
The historical cost principle suggests that the companies record assets cost at their original cost and continue to report them at their original cost over the time the asset is held. The historical cost principle is a generally accepted accounting principle that has been in use for a long time. The definition about the historical cost principle in the question above is therefor true.
5.
The monetary unit assumption dictates that business related activities be converted to monetary units. There are some business transactions that are however quite difficult to convert into monetary units, therefor the accountant in using this principle is only obliged to record only the transactions that can be measured in money terms. The statement about monetary units in the question above is thus true.
The Sarbanes-Oxley Act was designed to protect investors from accounting fraud, not ensure profitability. Ethics represent the judgment of loyalty or disloyalty in actions. The FASB, not the SEC, sets primary accounting standards, and the historical cost principle and monetary unit assumption guide financial reporting. First and third statements are only false, others are true.
The answer to the first question is false. Congress passed the Sarbanes-Oxley Act not to ensure that investors only invest in companies that will be profitable, but rather to increase confidence in financial reports and protect investors from accounting fraud following major scandals.
The answer to the second question is true. Ethics are indeed the standards of conduct by which actions are judged as loyal or disloyal.
The answer to the third question is false. While the Securities and Exchange Commission (SEC) has authority over financial disclosures and the securities industry, it is the Financial Accounting Standards Board (FASB) that primarily sets accounting standards in the United States.
The fourth answer is true. The historical cost principle does dictate that companies record assets at their cost and report them at that cost over the time the asset is held.
The answer to the fifth question is true. The monetary unit assumption does require that companies record only transactions that can be measured in monetary terms.
A 480 item pencil and paper standardized test of 20 personality dimensions used in selecting managers, sales associates and leadership positions is ___________.
Answer:
Hogan Personality Inventory
Explanation:
The Hogan Personality Inventory (HPI) is commonly used to predict job performance by measuring normal personality dimensions. It is specially used to measure certain specific traits and abilities: leadership and planning. It is based on the Five-Factor Model and was specifically developed for working adults in the business industry.
It is part of the Hogan Assessment tests used to predict job performance.
The paper standardized test of 20 personality dimensions used in selecting managers, sales associates and leadership positions is known as Hogan personnel selection series.
What is the Hogan Personality Assessment?The Hogan Personality Inventory (HPI) is known to be a kind of assessment that is said to measure the normal personality of people.
The result of the assessment done is employed to know job performance. The HPI is known to be a good tool to help you empower your employee selection, leadership development, etc.
Learn more about selection series from
https://brainly.com/question/25261401
A government collects $700 billion annually in tax revenue. Each year it allocates $130 billion to interest payments that it must pay on its accumulated debt. What percentage of annual tax revenue is allocated to make these interest payments
Answer:
18.57%
Explanation:
Given that
Government collection annually in tax revenue = $700 billion
Interest payment each year = $130 billion
By considering the above information, the percentage would be
= (Interest payment each year) ÷ (Government collection annually in tax revenue) × 100
= ($130 billion ÷ $700 billion) × 100
= 18.57%
We simply divide the each year interest payment by the government collection on annually basis so that the percentage could come
What model explains the nature of economic transactions in terms of a flow of resources from businesses to households and back again?
Answer:
The answer to this question is Circular flow model
Explanation:
A circular flow model is a model that shows the flow of income in the economy. It shows how income flow from business to household and how household return this money back to businesses in the terms of buying goods and services. It consists of components which includes households, Businesses, government
uppose a price floor on sparkling wine is proposed by the Health Minister of the country ofVinyardia. What will be the likely effect on the market for sparkling wine in Vinyardia?
A) Quantity demanded will decrease, quantity supplied will increase, and a shortage will result.
B) Quantity demanded will increase, quantity supplied will decrease, and a surplus will result.
C) Quantity demanded will decrease, quantity supplied will increase, and a surplus will result.
D) Quantity demanded will increase, quantity supplied will decrease, and a shortage will result.
Answer:
C) Quantity demanded will decrease, quantity supplied will increase, and a surplus will result
Explanation:
Price floor is the least amount a good or service can be sold. A price floor is usually set above equilibrium price.
When a price floor is enacted, it usually discourages demand because prices are usually set higher and encourages supply.
As a result, quantity demanded will decrease, quantity supplied will increase, and a surplus will result.
I hope my answer helps you.
Regan owns and manages The Coffee Shoppe. She likes to experiment with different management styles and life philosophies. She recently studied Kantian ethics and asks her employees to begin following Kant's categorical imperative at work. This means that the employees should:________.
a. consider or weigh all of the costs and all of the benefits of their actions before making decisions.
b. consider their actions in light of the consequences if everyone in society acted the same way.
c. follow all city ordinances and state and federal law, and no more.
d. follow the Golden Rule.
Answer:
its cold outside thats the answer
Explanation:
_____ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage.
A. Supply chain management
B. Integrated technology management
C. Strategic management
D. Inventory management
Answer:
Strategic management
Explanation:
Definition:
Strategic management is the identification, selection and implementation of an organisations long term goal and its objectives. It takes into account the concerns and existence of all stakeholders.
Three components of strategic management:
Strategic Analysis - takes into account factors affecting the internal and the external environment of the business. Strategic Choice - involves the formulation, evaluation and selection of strategic options.Strategic implementation - involves implementing and monitoring the strategies selected by the business.You have to decide between going on a cruise with friends or going on a service trip with Alternative Spring Break; both of which cost the same amount. You could also work over the break and earn some extra money, but this would be less valuable to you than either experience. If you choose the cruise, what is your opportunity cost?
Answer:
there is no cost both cost the same and you can make money working over the break although your boss would see you as a more responsible man cause you choose the service break instead
Explanation:
Choosing the cruise makes the service trip your opportunity cost, which is the value of the next best alternative not chosen. Opportunity cost can alter decision-making and behaviors once the true cost of choices is realized.
Explanation:When deciding between going on a cruise with friends or participating in an Alternative Spring Break service trip, if you choose the cruise, your opportunity cost is the value of the next best alternative you forego, which in this case is the service trip. Opportunity cost is a key concept in economics that refers to the benefit that you miss out on when choosing one alternative over another.
For example, if you perceive the service trip as the most valuable alternative to the cruise, then by choosing the cruise, the service trip becomes your opportunity cost. This principle emphasizes the cost of the road not taken, which can sometimes lead to altering decisions once you realize the true cost of your choices.
Understanding and calculating opportunity cost can provide a different perspective on the actual cost of our decisions. Just like spending extra money on lunch every day instead of saving it for a vacation, realizing the opportunity cost of actions can change behavior and lead to choices that better align with personal goals.
According to the pendulum view of globalization, globalization is a relatively new phenomenon triggered by the information revolution of early 1990s.
A. True
B. False
When merchandise that was sold on account is returned, which accounts are affected? a.Cash, accounts receivable, cost of goods sold, and customer refunds payable b.Customer refunds payable, accounts receivable, purchases, and estimated returns inventory c.Customer refunds payable, accounts receivable, merchandise inventory, and estimated returns inventory d.Customer refunds payable, accounts receivable, purchases, and merchandise inventory
Answer:
c.Customer refunds payable, accounts receivable, merchandise inventory, and estimated returns inventory
Explanation:
When merchandise that was sold on account is returned, the accounts that are affected are:
Accounts Receivable which is credited to reduce the amount the customer is owing OR that is receivable from customer.
Returns Inventory is debited to reduce sales amount and A second entry must also be made to debit merchandise inventory to add back the returned items to stock.
When merchandise sold on account is returned, affected accounts include Customer refunds payable, Accounts receivable, Merchandise inventory, and Estimated returns inventory, adjusting for the returned goods and the refund owed.
Explanation:When merchandise that was sold on account is returned, the accounts that are affected include Customer refunds payable, Accounts receivable, Merchandise inventory, and Estimated returns inventory. This means, initially, the seller recognizes the sale as revenue and an accounts receivable (since the merchandise was sold on account). When the merchandise is returned, the seller needs to adjust this transaction by: increasing the merchandise inventory (the returned goods are back in stock), decreasing accounts receivable (as the obligation from the buyer to pay is reduced), and recognizing the liability through customer refunds payable for the refund owed to the customer.
Particle 0 experiences a repulsion from particle 1 and an attraction toward particle 2. For certain values of d1 and d2, the repulsion and attraction should balance each other, resulting in no net force. For what ratio d1/d2 is there no net force on particle 0?
To solve the problem one assumption has to be made: Particle 0 is not between particles 1 and 2, otherwise, the net force will be always greater than 0. That is because the force than particles 1 and 2 make to particle 0, have the same direction.
Answer:
[tex]\frac{d1}{d2} = \sqrt{\frac{q1}{q2} }[/tex]
Explanation:
Coulomb's law states that Fe = (K*q1*q2)/d^2
We want the force that particle 1 makes over 0 to be equal and opposite to the force that particle 2 makes over 0, that is:
F10 = F20
(K*q1*q0)/d1^2 = (K*q2*q0)/d2^2 (d1 is the distance between particle 1 and 0 and d2 is the distance between particle 2 and 0)
Solving the equation:
q1/d1^2 = q2/d2^2
d1/d2 = √(q1/q2)
The Coffee Collective is seeking to identify customers who want a unique coffee drinking experience and are open to a loyalty rewards program. In doing so, the Coffee Collective is identifying its target__________________.
Answer:
market segment
Explanation:
We know that a market segment is a group of people who share one or more common characteristics, lumped together for marketing purposes.
In this example, The Coffee Collective is seeking to discover target customers who share particular coffee drinking habits and who are open to loyalty reward programs. Thus, they aim to find potential customers who share common characteristics.
Jimland's government has severe restrictions toward the entry of foreign companies into the country. A foreign company interested in Jimland would have to purchase an existing company in order to conduct its business there. Hence, companies can only enter Jimland through a:
Answer:
A Foreign Direct Investment
Explanation:
A FDI or Foreign Direct Investment is the definition of investment an organisation or an individual makes in another country aside his own country. Mostly it is done through the acquisition of business assets, property in the foreign country or the exclusive start of a new business activity in the country.
The action of Jimland to purchase an existing company in order to conduct its business falls under the jurisdiction of FDI as the acquisition of business assets or whole businesses. It means while Jimland cannot just start its own business activity, it can purchase,continue or modify the business operations of an existing company.
BackFill Systems allocates manufacturing overhead based on machine hours. Each connector should require 13 machine hours. According to the static budget, BackFill expected to incur the following:
1,300 machine hours per month (100 connectors * 13 machine hours per connector)
$6500 in variable manufacturing overhead costs
$5550 in fixed manufacturing overhead costs
During August, BackFill actually used 400 machine hours to make 85 connectors and spent $5,500 in variable manufacturing costs and $8800 in fixed manufacturing overhead costs. Calculate the variable overhead efficiency variance for BackFill.
a. $3,525 F
b. $3,500 U
c. $25 F
d. $7,025 F
Answer:
a) $3,525 F
Explanation:
Overheads cost is the addition of the indirect material cost, indirect labour cost and indirect expenses. Overhead that changes with the level of activity are called variable overhead costs, example includes cost fueling machines in factory.
Variable overhead efficiency variance: A variance is the difference between a standard cost and the actual cost. Variable overhead effeciency variance aims to determine the savings or extra cost incurred on variable overhead as a result of workers being faster or slower that expeceted.
To calculate this variance, we do as follows:
Hours
85 connectors should have taken(85 ×13) 1,105
but did take (i.e actual hours) 400
Efficiency variance in hours 705 F
Standard variable overhead rate/ hr (6500/1300 ) $5
Variable overhead efficiency variance $3,525 F
Note ; The standard rate per hour = Budgeted Cost/Budgeted hours
= $6500/ 1,300 hours.
There were savings in the cost because the workers spent less time (400 hours) to produce the actual units of connectors thatn the expected hours given 1,105 hours.
A company uses radio frequency identification (RFID) tags to keep track of its inventory. This is an example of the impact of technology in the area of _____. 1) accounting 2) operations 3) advertising 4) human resources 5) finance
Answer:
Operations
Explanation:
Inventory Management comes under the operations management. Operations management focuses on carefully managing the processes to produce and distribute products and services. Major, overall activities often include product creation, development, production and distribution. So this is an example of an activity that comes under operations of a company.
When corporate headquarters announced new service quality standards for pizza franchise owners, Roland knew he would have trouble gaining employees' support because
A. they were not allowed to diverge from existing standards.
B. customers were required to create service quality standards.
C. the process involved both part-time and full-time employees.
D. perishable services were being replaced with tangible services.
E. they were not involved in setting the goals
Answer:
E) they were not involved in setting the goals
Explanation:
I personally like management by objectives (MBO) since it is a management model that encourages employee participation in the decision making processes and goal setting processes for an organization.
When the employees feel that they have a saying in the decision making processes or goal setting processes, they are really motivated to reach those goals and give their best to prove that they were right when they proposed something. The motivation is different.
In this case, the exact opposite is happening. An order coming from some distant headquarter that was made without any type of employee participation is going to generate frustration and problems.
If a tenant occupies a leased property without the consent of the landlord after a lease expires, the type of estate that results is called:
Answer:
An tenancy at sufferance
Explanation:
If a tenant occupies a leased property without the consent of the landlord after a lease expires, the type of estate that results is called an tenancy at sufferance.
It is situation under which tenant continue to posess the property even after the entitled period, without the consent of property owner. It is also called "holdover tenancy". As per law, in case of tenancy at sufferance the landlord has a right to evict the tenant at anytime without prior notice.
The following strategy is usually employed by lean organizations in an effort to ensure continued quality compliance among suppliers and with internal production facilities:
A) Six SigmaB) MRP IIC) 3PLD) CAPS
Answer:
A)
Explanation:
Based on the information provided within the question it can be said that the strategy usually employed in this scenario would be Six Sigma. This term refers to a set of techniques and tools that are used in order to improve the process' of a company, which includes inventory supply management and internal production, allowing companies to ensure quality and efficiency.
Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect?
a. managing the exchange function of marketing
b. developing a promotional plan
c. deciding where and how to sell the product
d. making product designs
e. pricing the product
The question should have been:
Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect?
a. managing the exchange function of marketing
b. developing a promotional plan
c. deciding where and how to sell the product
d. making product decisions
e. pricing the product
Answer: Making product decisions
Explanation:
Brian has to make a key decision on how the final product would look like, he is faced with making a product decision. Product decision is a decision the producer makes on how a product would look like.
dentify which of the following scenarios is likely to shift the demand for wheat bread to the right. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers. You must click to select or deselect each option in order to receive full credit.
1. The population of Arizona grows by 20%.
2. unanswered A drought in Kansas makes people believe that the price of wheat bread will increase in a couple of months.
3. unanswered People learn that certain bread additives may be bad for their health.
4. unanswered As people become more health conscious, they discover the benefits of whole wheat as a part of their diet. unanswered
Answer:
Options (1), (2) and (4)
Explanation:
The shift of the demand curve to the right should an increase in demand caused by the change of other factors apart from the price of wheat bread.
Option 1 - The population of Arizona grows by 20%
This will likely result in a shift in the demand curve of wheat bread to the right (an increase in demand) as more people buy wheat bread due to the population growth.
Option 2 - A drought in Kansas makes people believe that the price of wheat bread will increase in a couple of months
An expectation of a future increase in the price of bread will likely drive up the demand for the commodity as people buy in a bid to store up at cheap prices before the increase in price sets in.
Option 3 - People learn that certain bread additives may be bad for their health
Demand for an item considered hazardous will most likely decline significantly as people shift to consuming more healthy products.
Option 4 - As people become more health conscious, they discover the benefits of whole wheat as a part of their diet
Demand for wheat bread in this case in likely to increase due to the same reason adduced for option 3, as the benefits make people consume more of the commodity.
Answer:
1 2 and 4
Explanation:
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using ________ organization.
a. matrix-style
b. functional teams
c. dedicated teams
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured as a ________ organization.
A. Functional
B. Balanced matrix
C. Weak matrix
D. Strong matrix
E. Project
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using Project organization.
Answer: Option E
Explanation:
Projectized or Project organization as the name suggests, focus on the projects and various process related to those projects. Project organization is different from the rest of the organizations in a sense that it works as a separate unit.
In this type of organizational structure the project manager is on the top and he is the sole decision maker regarding all the projects. The rest of the team members report to the project manager, whereas the roles and responsibilities are divided amongst the members.
Your objective is to determine that nonrecurring purchases, initiated by various user organizations, have been properly authorized. If all purchases are made through the purchasing department, to which of the following documents should you vouch purchases?
A. Purchase requisitions.
B. Invoices.
C. Receiving reports.
D. Purchase orders.
Answer:
A. Purchase requisitions.
Explanation:
A purchase requisition is a document initiated by the user department or the store officer notifying the purchase department of the need to purchase materials needed either in the production unit, shop floor or store.
In order to ensure that the request for material or inventory items pass through the established internal control procedure, every purchase requisition must pass through approval and authorization process.
A hacker sends a database command after regular data in an online submission form. This
command inserts an unauthorized record giving access to the hacker. Which risk is being discussed here?
a. SQL injection
b. HTML
c. Cross-site scripting
d. Java
Answer: SQL injection
Explanation:
SQL injection is a type of risk that could lead to the potential loss of private, personal or confidential information or data, this loss could be through such data being stolen, deleted, accessed by unauthorised users, etc.
SQL ( Structured Query Language) is a code added to a web in order to bridge the security and grain access to private data or document. It is a way of hacking into a website or system which is illegal and punishable under the law. SQL injection can be used to hack an ATM, dump unauthorised contents into a system or server, etc.
Instead of only meeting the goals of upper management, Malcolm also could have tried to meet the goals of his team members. This is known as ______ leadership.
a) empoweringb) transactionalc) servantd) passivee) laissez-faire
Answer:
servant leadership
Explanation:
Definition:
A servant leader focuses primarily on the growth and well being of people and communities to which they belong. The leader shares power, puts the needs of others first and helps people develop to their fullest potential.
How Malcolm could have demonstrated servant leadership:
Focus on serving employees’ needs .Develop employees to unleash potential in them .Coach and encourage others to participate in organizational activities .Create enabling work environment for personal growth and maximum participation by all. Move away from self –serving, domineering leadership to respect, value and motivate subordinates .Answer:
Servant leadership
Explanation:
Servant Leadership
A servant leader wants to serve his subordinates and the organization, not himself. He
focuses on providing increased service to others, doing everything wiithin his power to meet the goals of both followers and the organization, rather than to himself.
Servant leadership is not a quick fix meal to leadership rather it is a long term approach to life and work. Malcolm demonstrated this type of leadership by trying to meet the needs of his team member and also the goals of upper management
Select all of the following descriptions that are true about market economies. Select all that apply:
a. The government decides what methods of production will be used and how much workers will be paid.
b. A market economy is based on private enterprise.
c. Economic effort is devoted to goals passed down from a ruler or ruling class.
d. A person's income is based on his or her ability to convert resources (especially labor) into something society values.
Answer:
The correct answers are B and D
Explanation:
Market economies is the kind of market which is grounded on the private enterprise, which means or states that the production (businesses or the resources) are operated as well as owned by the group or the private individuals.
And the supplying the goods and the services are grounded on the demand. The income of the person is grounded on the ownership of the resources of the person (especially the labor).
Therefore, the statement which is true regarding the market economies are B and D.
In a market economy, private enterprise underpins the economic structure, and incomes are tied to the value of one's contribution to society. Option (b) and (d) are the correct choices, as they reflect the decentralized nature and the basis of income determination in market economies.
Regarding the descriptions true about market economies, here are the applicable options:
(b) A market economy is based on private enterprise.(d) A person's income is based on his or her ability to convert resources (especially labor) into something society values.Option (a), which states the government decides production methods and wages, and option (c), suggesting economic effort is devoted to goals from a ruler or ruling class, both describe features of a command economy, not a market economy. A market economy is characterized by decentralized decision-making, with businesses and consumers operating based on supply and demand. Individuals or groups of individuals own the resources and means of production, and their incomes are dependent on the value society places on their contributions. Market forces determine economic decisions, rather than government mandates.
A study was done of all homicide convictions in the State of Florida between 1976 and 1980 in order to examine if the application of the death sentence was racially biased. The data showed that a larger percentage of white suspects (11.2%) were sentenced to death than black suspects (8.5%). However, if the race of the victim was included in the analysis, the study found that for white victims, a larger percentage of black suspects (19.3%) were sentenced to death than white suspects (12.3%).Which of the following is correct? This is an example of Simpson’s paradox. This is an example of a negative association.A. "Race of the suspect" is a lurking variable in this situation.B. "Race of the victim" is a lurking variable in this situation.C. This is an example of Simpson’s paradox.D. This is an example of a negative association.
Answer and Explanation:
This is an example of Simpson’s paradox
BC Corporation has 1,800 shares outstanding and earned $2,700 last year on assets of $2 million and equity of $1.5 million. What is the PE ratio if the stock is currently selling at $18 per share?
Answer:
PE ratio = 12
Explanation:
Data provided in the question:
Number of shares outstanding = 1,800
Earning on assets = $2,700
Now,
Earnings per share, EPS = [ Net income ] ÷ [ shares outstanding ]
= [ 2,700] ÷ [ 1,800 ]
= 1.5
Thus,
PE ratio = [ Price per share] ÷ [ Earnings per share]
= 18 ÷ 1.5
= 12
Hence,
PE ratio = 12
If the original level of aggregate demand is AD0, then an expansionary monetary policy that shifts aggregate demand to AD1 will only:A. create an inflationary increase in price level.
B. create an increase in GDP.
C. create an increase in unemployment.
D. create a deflationary loss in price level.
Answer:
A. create an inflationary increase in price level.
Explanation:
A shift of the AD curve to AD1 as a result of expansionary monetary policy, indicates that the AD curve increased and shifted to the right.
A shift to the AD curve to the right increase aggregate price and quantity.
I hope my answer helps you.
When there is a net increase in the physical quantity of inventory during a period, the use of ________ results in an additional layer of inventory.a. FIFO
b. LIFO
c. average cost
Answer:
(B) LIFO
Explanation:
LIFO accounting is a method used in managing inventory and financial matters.
LIFO stands for “Last-In, First-Out”.
This method of accounting assumes that the recently purchased inventory be sold first. It is a method used for cost flow assumption purposes in the cost of goods sold calculation.
Then, LIFO INVENTORY LAYER is a portion of LIFO inventory cost on a balance sheet.
The ending inventory in physical quantity will usually exceed the beginning inventory.
The LIFO cost flow assumption assigns to this increases in physical quantities a cost computed from the prices of the earliest purchases during the year.
The LIFO inventory then consists of layers, or slices, which typically consists of relatively small amounts of physical quantities from each of the past years when purchases in physical units exceeded sales in units.
Prior entrepreneurial experience, relevant industry experience, and ____ are the attributes that strengthen the chances of a founder's success.
Answer:
Networking
Explanation:
Your network is your net-worth. The phrase is said over and over again encouraging entrepreneurs and business owners to cast their “net” and meet as many people as possible. Networking is a big reason for success for business owners. There’s even local groups like BNIs that are built around networking. Being able to increase your presence is very important.
In marketing terms, what is a market? A. A retail establishment B. All sellers of a product or service C. The set of actual and potential buyers of a product or service D. A company's current customers E. The products that are sold to customers
Answer:
The set of actual and potential buyers of a product or service
Explanation:
To market a product means taking deliberate actions to make a product known to buyers. It involves creating awareness of the benefits of a product with expectations that customers will buy it. Marketing activities are directed towards customers and potential customers of the products or services.
A customer is an individual or institution that buyers a product or a service. They buy for consumption or as inputs for the production of more goods and services. Marketers create enticing messages to convince buyers to purchase. Therefore, buyers and potencial customers are the market for products and services.