Which of the following is true of a specialty product?
a. It is sold using aggressive personal selling as consumers do not seek out this type of product.
b. It is widely distributed in a geographic area in order to sell sufficient quantities to meet profit goals.
c. It is bought only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility.
d. It is marketed using selective, status-conscious advertising that maintains its exclusive image.
Ans: d. It is marketed using selective, status-conscious advertising that maintains its exclusive image.
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Why do Mexican accounting standards require all nonmonetary assets and liabilities to be restated in terms of purchasing power of the Mexican currency?
A. To properly reflect exchange rate gains and losses in the financial statement B. In order to reflect the historical cost of the assets and financing associated with these assets C. To reflect the high rates of inflation that Mexico has experienced D. Because historical costs overstate the value of the assets and corresponding claims on resources
Which of the following is of least interest to an appraiser?
a. Value in exchange. b. The original cost of the property. c. The objective value of the property. d. The sales price received for comparable properties.