Which of the following is likely to occur during economic downturns?
A) People tend to spend more on luxury goods.
B) Consumption of necessary goods decline.
C) Long-term credit is available at concessional rates of interest.
D) The purchasing power of the population declines.
E) The level of investment in the economy rises.
D
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Rightz Petroleum Products owns furniture that was purchased for $20,000. Accumulated depreciation is $16,000. The furniture was sold for $3,800. Prepare the journal entry to record this transaction
What will be an ideal response
Which of the following statements is true regarding sales promotion?
A) It lacks focus on price. B) It is less effective than advertising in generating a measurable short-term sales response. C) Customers are induced to become brand-loyal. D) Customers are induced to become price-sensitive.