Perfection of a security interest permits the secured party to protect its interest by
A. Avoiding the need to file a financing statement.
B. Preventing another creditor from obtaining a security interest in the same collateral.
C. Establishing priority over the claims of most subsequent secured creditors.
D. Denying the debtor the right to possess the collateral.
C. Establishing priority over the claims of most subsequent secured creditors.
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Pro forma earnings:
A. Are management's view of permanent earnings. B. Are needed for the correction of errors. C. Are standardized under generally accepted accounting principles. D. Are useful to compare two different firms' performance.
Department store owner Brendan McGowan decided to make a gutsy move with his high-end Western Son stores. Rather than focus on the upscale, luxury market that the store attracted earlier in the decade, he focused on bringing in clothing with more mass appeal. The stores succeeded in turning around downward trending sales. In conjunction with your understanding of the product life cycle, which of the following statements summarizes the marketing strategy?
A. Western Son knew that in order to re-invent itself, it was going to have to practice the same marketing strategy followed by Walmart and other discount stores. It would make all marketing decisions based on cost. The price on an item need only exceed what it cost to make and ship it. Falling prices became the norm. B. Western Son recognized that it was not competing well with its traditional higher income market. It decided to change its product offering and price to appeal to a broader market and increase sales and profits. C. Western Son stores recognized several markets that it could reach with its upscale clothing lines. D. Western Son positioned itself against, rather than with, the competition. It decided to adhere to its price leadership position.