Maggie's Apparel Inc. is a store that offers customized shopping, whereby consultants pick clothing they feel will fit a customer's style and specified need. This scenario most likely illustrates _____
a. personal selling
b. price-based selling
c. seasonal marketing
d. word-of-mouth marketing
ANSWER: a
This scenario most likely illustrates personal selling. Personal selling is a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other.
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Which of the following is true about limited liability companies?
A) The owners are called shareholders. B) They cannot have centralized management by only a few members. C) They can be formed without any specific steps taken by the owners. D) In most cases, they can choose whether to be taxed as a partnership or corporation. E) At least one member must have unlimited liability.
With respect to currency measurement, what is the rule when discounting cash flows?
A) The revenues and expenses must be measured as they occur rather than on an incremental basis. B) There is no need to incorporate the risk premium of that the firm's stockholders would demand in the discount rate. C) Revenues and expenses should be measured on a pre-tax cash flow basis. D) All cash flows should be measured in the same currency.