Businesses use the marketing concept when they focus on ________
A) limiting the environmental impact of the company's products
B) growing profit margins
C) fulfilling the expectations of their customers
D) efficiently distributing products to retailers
E) creating promotional programs that will increase sales volumes
C
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An agency relationship may NOT be terminated by
a. completion of the agreement. b. expiration of the terms of the agreement. c. agreement of the parties. d. someone outside the agency relationship.
A firm using FIFO had a beginning inventory of $48,000, an ending inventory of $56,000, and a pretax income of $400,000 . If it had used LIFO, its beginning inventory would have been $20,000, and its ending inventory would have been $16,000 . From the information provided, one can conclude that:
a. quantities increased and prices decreased. b. quantities decreased and prices increased. c. prices increased but we cannot conclude what happened to quantities. d. quantities decreased but we cannot conclude what happened to prices. e. not enough information to reach a conclusion.