The LIFO retail method assumes that markups and markdowns apply to both beginning inventory and goods purchased during the period.

As Ben manages communications for his company's watch brand, which has reached the decline stage in the product life cycle, which of the following marketing communications mix tools is he most likely to continue?

A) interactive marketing B) advertising C) personal selling D) direct marketing E) sales promotion

An accounts receivable aging schedule is used to

A) decide whether to extend credit. B) determine whether legal action should be taken against a customer with a past due account. C) provide information about whether the firm's prices are too low. D) monitor accounts receivable. E) make decisions regarding the length of time a firm should take before paying suppliers.