89 which of the following describes the products and services of companies that are 4308083

89 which of the following describes the products and services of companies that are 4308083

89) Which of the following describes the products and services of companies that are price-setters?

A) They tend to be unique.

B) They are priced by managers using a target-costing emphasis.

C) They tend to have a lot of competitors.

D) They tend to be commodities.

90) Stockholders' expectations of company profits are affected by which of the following?

A) Industry risk

B) Historical company earnings

C) General economic conditions

D) All of the above

91) The cost-plus price is described by which of the following?

A) Target total cost plus desired profit

B) Total cost plus desired profit

C) Revenue at market price plus desired profit

D) Variable cost plus desired profit

92) Target total cost is described by which of the following?

A) Total cost plus desired profit

B) Revenue at market price plus desired profit

C) Revenue at market price minus desired profit

D) Total cost minus actual cost

93) Managers must consider which of the following when pricing a product or service?

A) All costs

B) Only period costs

C) Only manufacturing costs

D) Only variable costs

94) Which of the following pairs are characteristics of price-takers?

A) Less competition and target pricing

B) Cost-plus pricing and less competition

C) Target costing and heavy competition

D) Cost-plus pricing and lack of product uniqueness

95) Which of the following pairs are characteristics of price-setters?

A) Less competition and target costing

B) Cost-plus pricing and less competition

C) Lack of product uniqueness and heavy competition

D) Less competition and lack of product uniqueness

96) Big-box retailers such as Lowe's are considered price-takers because

A) their products are not unique.

B) there is less competition in the home improvement retail sector.

C) their products are unique.

D) they emphasize cost-plus pricing.

97) Target total cost is defined as

A) cost of goods sold less desired profit.

B) revenue at market price less desired profit.

C) revenue at market price less variable costs.

D) revenue at market price less fixed costs.

98) Methods for a company to meet target total cost and the profit goals if the current cost of the product is higher than the target cost include which of the following?

A) Accept a lower profit

B) Cut fixed costs, cut variable costs

C) Cut fixed costs

D) Any of the above

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