Which of the following is the problem associated with using the formula sales approach without knowing customers' needs?

A) It will reduce the buyer-seller interaction and make the job difficult for the salesperson.
B) The customer will raise objections only at the closing stage and complicate the sale.
C) The salesperson cannot implement any trial closes with confidence.
D) The customer may not respond to the salesperson's questions.
E) Customer objections may arise early in the presentation.

Managed float means:

A) a fixed exchange rate system with regularly scheduled periodic devaluations.
B) a freely floating exchange rate system.
C) a combination of freely floating exchange rates with occasional intervention by central banks.
D) a fixed exchange rate system managed by the European Community.
E) a flexible exchange rate system managed entirely by the IMF.

When managers at Saks Fifth Avenue addressed employees' concerns about what the employees needed to do their jobs, they observed that employee engagement and customer engagement:

A) exhibited an inverse relationship
B) failed to maximize long-term shareholder interests
C) adversely affected the economic needs of the organization
D) had a significant positive impact on customer satisfaction and sales
E) affected customer loyalty but did not increase sales

Which of the following phrases best describes product focus?

A) low volume, high variety
B) Finished goods are usually made to order.
C) Processes are designed to perform a wide variety of activities.
D) high fixed costs, low variable costs
E) Raw material inventories are high relative to the value of the product.

An operating loss carryforward occurs when

A) prior pretax financial income is insufficient to offset the current period operating loss
B) prior taxable income is insufficient to offset the current period operating loss
C) future pretax financial income is insufficient to offset a current period operating loss
D) future taxable income is insufficient to offset a current period operating loss

Determine the retained earnings ending balance.

A) $12,150
B) $15,730
C) $6,480
D) $21,400