Which of the following terms is defined as the set of values, beliefs, rules, and institutions held by a specific group of people?

________ are the major marketing factors in the sale of most manufactured materials and parts

A) Branding and advertising B) Price and service C) Sales promotion and advertising D) Branding and packaging E) Public relations and brand management

When following U.S. GAAP, the lower-of-cost-or-market rule for inventory requires a firm to report ________

A) the inventory at the higher amount of cost or market on the balance sheet B) the difference between the cost basis and the market-based measure of inventory as a gain on the income statement C) the inventory at cost if the market value of inventory is higher than its cost basis D) the inventory at cost if the market value of inventory is lower than its cost basis