In a principal-agent relationship, amounts collected on behalf of the principal are recorded as revenue by the agent.

Answer the following statement(s) true (T) or false (F)

1. Sales promotion is the use of techniques that create a perception of greater brand value among consumers, the trade, and business buyers, but the techniques can't entail an incentive. 2. The complex and information-rich tools of IBP can help create brand loyalty and competitive advantage. 3. One advantage of sales promotions is that the results are simple to measure. 4. Sales promotion can break through the media clutter. 5. Historically, more money has been budgeted for sales promotion than for advertising.

If 34,000 units are 80% complete with respect to direct materials, then the equivalent units of production for direct materials are ________

A) 34,000 units B) 27,200 units C) 6,800 units D) 40,800 units