Description
Unformatted Attachment Preview
Principles of Accounting Assignments
Assignment #1
1. Use the accounting equation to answer each question that follows. Show any calculations you
make.
a. The assets of Master Company are $380,000 and the owner’s equity is $155,000. What is the
amount of the liabilities?
b. The liabilities and owner’s equity of Lee Company are $65,000 and $79,500 respectively. What is
the amount of the assets?
c. The liabilities of Hake Company equal one-third of the total assets, and owner’s equity is
$180,000. What is the amount of the liabilities?
d. At the beginning of the year, Jarvis Company’s assets were $310,000, and its owner’s equity was
$150,000. During the year, assets increased by $45,000 and liabilities decreased by $22,500.
What is the owner’s equity at the end of the year?
2.
Complete the table to indicate whether each of the following accounts is an asset, a liability,
equity, revenue, or an expense. Also, indicate whether the normal balance of each account is a
debit or a credit.
Account Name
Account Type
Normal Balance
a. Accounts Payable
b. Supplies
c. Capital
d. Fees Earned
e. Supplies Expense
f. Accounts Receivable
g. Unearned Revenue
h. Equipment
Page 1 of 2
Principles of Accounting Assignments
Page 2 of 2
Purchase answer to see full attachment
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Explanation & Answer
Review
Review
Anonymous
Excellent! Definitely coming back for more study materials.
Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Most Popular Content
Week 8 Final Project
Final Project - My Personal Walk with an Organization as an HR Practitioner. By this time you should have a strong underst ...
Week 8 Final Project
Final Project - My Personal Walk with an Organization as an HR Practitioner. By this time you should have a strong understanding of how you can impact the workplace by making some improvements for overall success of your chosen the organization. Taking a closer look, evaluate how you impact your workplace or community from an HRM perspective. Consider your personal HR assets and liabilities. This is where you put it all into practice and make a difference.Choose a topic from the course that you are passionate about in the area of HRM. You will write a paper and develop a PowerPoint presentation about this topic. Include elements, processes, and tools to make it comprehensive in nature. You must submit all your documents in a zip folder.The following requirements must be met for the PowerPoint presentation:Design and format each slide for a presentation.The notes sections must total a minimum of 500 words for the entire presentation. Use these sections to explain and support information provide on your slides.Include a cover slide and reference slide (these slides do not count toward the 20 – 25 slide requirement).At least 80% of your paper must be original content/writing.No more than 20% of your content/information may come from references.Identify sources on slides that contain reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) and list them on a reference slide.The following requirements must be met for the paper:Write between 1,000 – 1,500 words using Microsoft Word in APA 6th edition style.Use an appropriate number of references to support your position, and defend your arguments. The following are examples of primary and secondary sources that may be used, and non-credible and opinion based sources that may not be used.Primary sources such as government websites (United States Department of Labor - Bureau of Labor Statistics, United States Census Bureau, The World Bank), peer reviewed and scholarly journals in EBSCOhost (Grantham University Online Library) and Google Scholar.Secondary and credible sources such as CNN Money, The Wall Street Journal, trade journals, and publications in EBSCOhost (Grantham University Online Library).Non-credible and opinion based sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. should not be used.Cite all reference material (data, dates, graphs, quotes, paraphrased statements, information, etc.) in the paper and list each source on a reference page using APA style. An overview of APA 6th edition in-text citations, formatting, reference list, and style is provided here.
6 pages
Interpretation Questions
4.1b. The skewness statistic for math achievement test and what it tells us The skewness statistic for math achievement te ...
Interpretation Questions
4.1b. The skewness statistic for math achievement test and what it tells us The skewness statistic for math achievement test is 0.044. The 0.044 ...
7 pages
Assssment 2
1) ABC Manufacturing is unsure of the ideal price to quote for one of their products, a pump. ABC's president has asked yo ...
Assssment 2
1) ABC Manufacturing is unsure of the ideal price to quote for one of their products, a pump. ABC's president has asked you to do a break even ...
3 pages
Factset Cert Exam List
Apart from the consumer price index (CPI) and producer price index (PPI) what other key monthly indicator is often used to ...
Factset Cert Exam List
Apart from the consumer price index (CPI) and producer price index (PPI) what other key monthly indicator is often used to measure inflation in the ...
DePaul University Week 10 Chapter 12 Leadership Team at Rolls Royce Paper
Week 10 chapter 12 DBIn this board, you will examine the Brexit & Rolls Royce Case. Please watch the following video (the ...
DePaul University Week 10 Chapter 12 Leadership Team at Rolls Royce Paper
Week 10 chapter 12 DBIn this board, you will examine the Brexit & Rolls Royce Case. Please watch the following video (the Power Points accompanying the Video are located on Canvas). https://youtu.be/hpszPS_NvCkIn a single post, provide your answer to one of the case questions and provide one extra article on the impact of exchange rate risk on McDonald's. I found this article, which discusses how a strong dollar impacts McDonald's bottom line. The questions are attached
University of the Cumberlands Marketing Management Discussion
QUESTION 1Which of the following types of research methods typically involves discussions among a small number of customer ...
University of the Cumberlands Marketing Management Discussion
QUESTION 1Which of the following types of research methods typically involves discussions among a small number of customers led by an interviewer and is designed to generate insights and ideas about products and brands?Observational researchLong interviewsProjective techniquesFocus groupsQUESTION 2Nutricare Inc. is a leading distributor of health and beauty products in the United States. It wants to expand into the health drinks market segment. It collects data provided by the United States Department of Agriculture (USDA) to find the size of the target population. Identify the type of data Nutricare Inc. has collected in this scenario.Secondary dataPrimary dataA combination of primary and secondary dataBig DataQUESTION 3Which of the following observations about social classes in the United States is true?The middle class makes up more than half of the American population.The proportion of population belonging to the upper class in the U.S. is the smallest.The working class and lower Americans have identical demographic features, consumption goals, and economic capabilities.The social classes are the sole determining factor for the purpose of market segmentation.QUESTION 4The marketing team at Stacey Collins Inc. is conducting research to determine the reaction of consumers to its new line of genuine leather clothing. The team is drawing a sample and preparing the questionnaires it intends to send out to the sample. It is also deciding whether it will rely mostly on secondary data or primary data to make its decisions. Considering the five Ps of the marketing research process, the marketing team is currently involved in the:determination of research purpose.performance of the research.development of a research plan.processing of research data.QUESTION 5Which of the following is an example of a marketing influence on consumer behavior?Mani purchased the first pair of denim he saw rather than the Tough Guy pair he wanted since he was pressed for time.Hannah blamed her depression on her purchase of two quarts of Cal's chocolate chip ice cream.Aliya purchased jewelry at Zenia's Boutique because it had publicized a sale of up to 70 percent off on all its products.Jayla purchased $150 worth of aquatic plants because her companion convinced her that the plants would enhance the aesthetics of her aquarium.QUESTION 6Quite often a situation or problem is recognized as needing research, yet the nature of the problem is not clear or well defined, nor is the appropriate type of research evident. In the context of the steps of the marketing research process, this problem immediately lends itself to _____.identifying the purpose of the researchconducting the researchpreparing the research reportprocessing the research dataQUESTION 7Which of the following situational influences on consumer decision making includes an intent or requirement to select, shop for, or obtain information about a general or specific purchase?Current conditionsTask featuresSocial featuresPhysical featuresQUESTION 8Which of the following takes place during the processing of research data?Preparing the research reportChoosing between primary data and secondary dataRecording the maximal amount of useful informationInterpreting and assessing the research resultsQUESTION 9During the _____ stage of the research process, it should be decided whether the company will do its own research or contract with a marketing research specialist.report preparationdata processingperformanceplanningQUESTION 10Irene considers herself an expert on gourmet cuisine, and she has dined at many of the finest restaurants in the United States. On a recent trip to New Orleans, she refused to eat at a restaurant that was reported to have some of the best Cajun food because she thought the décor was tacky and outdated. Which situational influence explains Irene's refusal to eat at the restaurant?Marketing mixTask featuresReference groupsPhysical featuresQUESTION 11The first step in the research process is:to collect data and label data sets.to determine the appropriate marketing strategy based on findings.to prepare a research report.to determine why the research is needed and what it is to accomplish.QUESTION 12Which of the following is a benefit of observation as a method of data collection?It is accurate in measuring covert behavior.It is useful in studying cross-cultural differences.It can assess attitudes that cause certain behaviors.It can provide clear evidence of causal relationships.QUESTION 13According to Maslow's hierarchy, _____ will dominate when all needs are unsatisfied, and in such situations, none of the other needs will serve as a basis for motivation.physiological needssafety needsesteem needsself-actualization needsQUESTION 14While shopping for books and videotapes, Freda, usually a cheerful girl, selects the book "Happy Hours" from the bookshelf because she was feeling depressed and wanted to read something that would cheer her up. Which of the following situational influences guided Freda's purchasing decision?Time factorsCurrent conditionsTask featuresSocial featuresQUESTION 15Tracy has always wanted to become a doctor. She believes that her life's true calling is to help others and save lives. Tracy works two part-time jobs to pay for medical school. According to Maslow's hierarchy of needs theory, which of the following gives Tracy her drive and focus?Physiological needsSelf-dissonance needsSafety needsSelf-actualization needsQUESTION 16Which of the following statements about product involvement is true?Product knowledge is unrelated to product involvement.The level of product involvement with a product requiring routine decision is the same as that of a product requiring extensive decision making.Product involvement is independent of the group, marketing, and situational influences operating on a potential consumer.A high degree of product involvement encourages extensive decision making by consumers.QUESTION 17Which of the following statements is true of group sources of information for purchase decisions?They are obtained from a consumer's past experiences based on consumer groupthink and recall.They are conveyed through promotional activities by marketing managers advertising groups.They involve face-to-face conversations and social media.They involve handling, examining, and using a product as a group.QUESTION 18Which of the following kinds of research collects data by means of a feedback form through mail, phone, or in person?Experimental researchMathematical modelingSurvey researchObservational researchQUESTION 19If a market researcher is analyzing the current situation involving the problem to be researched, he or she is most likely working on the _____.performance of the researchpurpose of the researchpreparation of the research reportprocessing of research dataQUESTION 20For high-involvement products that require extensive decision making, marketers should provide consumers with:eye-catching advertisements and in-store displays to encourage them to make a purchase.factual information that highlights the competitive advantage of the products.ready availability of the products in a variety of outlets and at competitive prices.minimum information to encourage a quick purchasing process.QUESTION 21When buying clothes, consumers may shop at several stores and compare a number of different brands and styles before purchasing an item without resorting to a complex analysis of the pros and cons of each brand and style. Identify the type of decision making involved.Extensive decision makingLimited decision makingRoutine decision makingOptional decision makingQUESTION 22After an intense workout at the gym, Tim feels famished. On his way home, he stops to buy a burger and fries from a fast-food shop. Which of the following factors influenced Tim's recognition of a need?Internal stimuliExternal stimuliTask featuresSocial featuresQUESTION 23Isabel wants to open an art gallery in a neighborhood known for its large Hispanic population. However, she is apprehensive about whether or not the people in the neighborhood will be responsive to the unconventional art she sells. To make a decision, she obtains data from the National Statistics Institute which shows the career interests of the people of the neighborhood, most of them being in creative, unconventional fields. Which of the following types of data is she using to aid her decision making?Primary dataSecondary dataA combination of primary and secondary dataRaw dataQUESTION 24Which of the following is the final step of the research process?Processing of research dataData structuring and analysisPreparation of the research reportPerformance of the researchQUESTION 25Sarah is afraid she has over-planned her son's sixth birthday party. She is concerned the other parents will ridicule the fact that she hired a magician and a clown, rented three ponies, and arranged for a portable water slide to be installed for the party. Which of the following observations about Sarah's perceived risk is true?The purchases for the party have created equally strong notions of functional and psychological risks.Concern about what the other parents will think implies Sarah's perceived functional risks are high and perceived risks are low.Concern about what the other parents will think implies Sarah's perceived psychosocial risks are high.There are no perceived risks in this situation.QUESTION 26For a high-involvement product purchase, consumers are likely to:possess low awareness of product features.obtain a high degree of disengagement.develop a high degree of product knowledge.receive a low level of reference group influence.QUESTION 27Bay Shop, a consumer electronics retailer, wants to know how the shopping needs of its consumers vary according to the days of the week. For instance, consumers tend to buy expensive items over weekends and shop for necessary items—such as batteries—over the week. To obtain relevant data, the store uses the scanner data collected and stored in computer files from its checkout counters. Analysts will use equations to determine relationships between the variables. Which of the following research techniques is Bay Shop most likely using in this scenario?Projective techniquesMathematical modelingFocus groupsObservational researchQUESTION 28Which of the following is an example of a marketing source of information for making a purchase decision?An advertisement for a brand of macaroni and cheesePrevious experience with a car brandAn independent movie reviewA friend's review of a brand of doughnutsQUESTION 29Soy and Soup, a restaurant in the city of Uberlin, wants to open a vegan restaurant in the city of Prim. To ensure that Prim has a market for vegan food, Soy and Soup conducts research on the market. It sends out a team of researchers to conduct short interviews with the public asking a standard set of questions about the kinds of food they enjoy eating and whether they would like to eat at a restaurant that serves only vegan food. Which of the following research methods has Soy and Soup used in this scenario?Experimental researchArchival researchSurvey researchObservational researchQUESTION 30An article in a local newspaper ranks the facilities of nursing homes in the immediate neighborhood on the basis of cleanliness, staff-patient ratio, on-staff care providers, and other key determinants. This article would be a typical example of a(n) _____ source of information.marketingsocialexperientialpublicQUESTION 31In the context of market research, identify a problem that could invalidate test marketing study results.Test market areas are representative of the market in general in terms of population characteristics, competition, and distribution outlets.Test-market products are advertised or promoted below a profitable level for the market in general.The effects of factors that influence sales, such as the sales force, season, weather conditions, competitive retaliation, shelf space, and so forth, are considered in the research.The test-market period is too short to determine whether the product will be repurchased by customers.QUESTION 32Which of the following is a research method that deals with manipulating one variable and examining its impact on other variables?Marketing auditObservational researchArchival researchExperimental researchQUESTION 33_____ is the most common type of consumer decision process, and it is seen in operation in the way consumers purchase most packaged goods.Limited decision makingExtensive decision makingRoutine decision makingAlternative evaluationQUESTION 34Processing research data includes:preparing observational forms for data collection.obtaining and recording the maximal amount of useful information.collecting data by means of a questionnaire, either by mail or phone.editing, structuring, and coding data for statistical analysis.QUESTION 35In the context of social influences on consumer decision making, identify a true statement about reference groups.Reference group influence is generally considered to be weaker for products that are "public" or conspicuous.The nature of a product and the role an individual is playing during the purchasing process influence which reference group will be consulted.Reference group influence is generally considered to be constant across product categories.Family is secondary to peers as a reference group for people of all ages.QUESTION 36Marketeers Inc. conducts research to determine the reaction of its employees to certain organizational changes that have recently been implemented. The company wants detailed and personalized responses from a small number of participants within the company. It is willing to spend a large amount of money to get meaningful results. In this scenario, which data collection method will most likely give Marketeers Inc. the data it requires?Personal interviewsFocus groupsMail surveysObservationQUESTION 37Judgment and insight are needed to draw appropriate inferences and conclusions from research results because marketing research studies:imply significant relationships among variables.do not use econometric or statistical techniques.seldom obtain findings that are unambiguous.always use extremely large secondary data sets.QUESTION 38Jeremy, the manager at Orion Department Store, has noticed fluctuations in the sales of certain products after a change in the store layout. While certain products have shown an increase in sales, the sale of other products has declined considerably. Jeremy wants to make note of the areas of the store that customers frequent and those that they avoid. He hopes to gain sufficient insight in order to create a better store layout and get sales back to normal. In this scenario, Jeremy is most likely to use the method of _____.observational researchmathematical modelingexperimental researchprojective techniqueQUESTION 39In the past, marketing researchers were not extensively involved in:engaging in the technical aspects of the research.designing their research studies.making strategic recommendations based on research.collecting data.QUESTION 40Since consumers receive so much information from marketers and screen out a good deal of it, it is important for marketers to devise communications that:manipulate consumer perceptions in order to make them buy products.offer diverse messages about their products.minimize the amount of information they circulate about their products or brands.utilize appropriate media through which the consumers in the target market are reached.QUESTION 41What are the primary demands of lower Americans?Products that allow them to emulate upper AmericansProducts that are recommended by media expertsCost-efficient and popular productsFood, clothing, and other staplesQUESTION 42For which of the following purchases would a consumer most likely engage in extensive decision making?Purchase of a pair of pantyhose at a hotel gift shopPurchase of a cup of coffee from StarbucksPurchase of a pack of cat foodPurchase of a new carQUESTION 43Which of the following statements about marketing research is true?Marketing research that is executed carefully is free from errors.Marketing research is an aid to decision making.Marketing research is a substitute for decision making.Marketing research forecasts with certainty what will happen in the future.QUESTION 44_____ involves interacting with a single respondent for several hours and is designed to find out the meanings various products and brands have for an individual.Observational researchA long interviewMathematical modelingAn experimentQUESTION 45Which of the following is a benefit of using projective techniques as a method of data collection?They are useful in word association tests of new brand names.They minimize the need for trained and experienced interviewers.They substantially reduce the cost per interview in the research study.They provide a broad geographic dispersion for a marketing research study.QUESTION 46Warner Implants, a pioneer in the industry for medical implants, launched a revolutionary cardiac implant in the year 2000. As part of its promotional strategy, the marketing team at Warner Implants conducted individual discussions with a few customers. These discussions were aimed at understanding the meaning its implants brought to the lives of the customers. This scenario best illustrates the use of _____ as a mode of research.observationmathematical modelingexperimentslong interviewsQUESTION 47Secondary reference groups include _____.familyclose friendsspouse and childrencollege associationsQUESTION 48A drawback of using Internet surveys as a data collection method in marketing research is that:they take a long time to be executed.they make real-time data processing impossible.they pose difficulties in generating sample frames for probability sampling.they create a high degree of perceived intrusion as respondents cannot answer the questions at their convenience.QUESTION 49Which of the following is a significant characteristic of lower Americans?Access to food stampsEmphasis on family tiesFocus on recreational aspectsConcern with fashionQUESTION 50A marketer of yo-yos wants to know how an increase in price will affect its sales. It uses a test store where it increases the price of the yo-yos by 15 percent and then studies its impact on sales. Comparing its sales in the test store with those in other stores provides information about the likely impact of a price change in the overall market. Identify the type of market research method most likely used in this scenario.Experimental researchMathematical modelingObservational researchFocus group
Similar Content
"Slide Design and Visual Aides"
"Slide Design and Visual Aides"Please respond to the following:Consider the importance of visuals in connecting with an au...
personal selling final exam
StudyGuideMKT383DayClassFinal.doc ...
IUPUI Product Life Cycle Worksheet
Hey, Robert good evening. This was the grade and feedback I received
You earned a grade of F on your paper (48%). There ar...
Grand Canyon University Problem or Opportunity in your Organization Paper
Executive Summary: Specific Problem or Opportunity in your OrganizationSpecific problem or opportunity in your organizatio...
Please read and brief this seminal case。
Please brief and analyze to this case, DO NOT use any source/reference from other articles....
MGT 311 SEU Management Worksheet
College of Administrative and Financial Sciences
Assignment 3
Deadline: 4th December 2021
Course Name: Introduction to
Op...
Mgt 322
• The Assignment must be submitted on Blackboard (WORD format only) via allocated • Students are advised to make their...
20200504030017hr Metrics And The Effectiveness Of Organizational Practices
Human Resources Professionals or simply HRs, are becomingly doubling as strategic entities of their employers. In a vast c...
acc_210_week_1_dq_2.doc
acc_210_week_1_dq_2.doc...
Related Tags
Book Guides
Their Eyes Were Watching God
by Zora Neale Hurston
Invisible Man
by Ralph Ellison
Nervous Conditions
by Tsitsi Dangarembga
The King Must Die
by Mary Renault
The Metamorphosis
by Franz Kafka
The Adventures of Huckleberry Finn
by Mark Twain
Principles - Life and Work
by Ray Dalio
1984
by George Orwell
The Dispossessed
by Ursula Kroeber Le Guin
Get 24/7
Homework help
Our tutors provide high quality explanations & answers.
Post question
Most Popular Content
Week 8 Final Project
Final Project - My Personal Walk with an Organization as an HR Practitioner. By this time you should have a strong underst ...
Week 8 Final Project
Final Project - My Personal Walk with an Organization as an HR Practitioner. By this time you should have a strong understanding of how you can impact the workplace by making some improvements for overall success of your chosen the organization. Taking a closer look, evaluate how you impact your workplace or community from an HRM perspective. Consider your personal HR assets and liabilities. This is where you put it all into practice and make a difference.Choose a topic from the course that you are passionate about in the area of HRM. You will write a paper and develop a PowerPoint presentation about this topic. Include elements, processes, and tools to make it comprehensive in nature. You must submit all your documents in a zip folder.The following requirements must be met for the PowerPoint presentation:Design and format each slide for a presentation.The notes sections must total a minimum of 500 words for the entire presentation. Use these sections to explain and support information provide on your slides.Include a cover slide and reference slide (these slides do not count toward the 20 – 25 slide requirement).At least 80% of your paper must be original content/writing.No more than 20% of your content/information may come from references.Identify sources on slides that contain reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) and list them on a reference slide.The following requirements must be met for the paper:Write between 1,000 – 1,500 words using Microsoft Word in APA 6th edition style.Use an appropriate number of references to support your position, and defend your arguments. The following are examples of primary and secondary sources that may be used, and non-credible and opinion based sources that may not be used.Primary sources such as government websites (United States Department of Labor - Bureau of Labor Statistics, United States Census Bureau, The World Bank), peer reviewed and scholarly journals in EBSCOhost (Grantham University Online Library) and Google Scholar.Secondary and credible sources such as CNN Money, The Wall Street Journal, trade journals, and publications in EBSCOhost (Grantham University Online Library).Non-credible and opinion based sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. should not be used.Cite all reference material (data, dates, graphs, quotes, paraphrased statements, information, etc.) in the paper and list each source on a reference page using APA style. An overview of APA 6th edition in-text citations, formatting, reference list, and style is provided here.
6 pages
Interpretation Questions
4.1b. The skewness statistic for math achievement test and what it tells us The skewness statistic for math achievement te ...
Interpretation Questions
4.1b. The skewness statistic for math achievement test and what it tells us The skewness statistic for math achievement test is 0.044. The 0.044 ...
7 pages
Assssment 2
1) ABC Manufacturing is unsure of the ideal price to quote for one of their products, a pump. ABC's president has asked yo ...
Assssment 2
1) ABC Manufacturing is unsure of the ideal price to quote for one of their products, a pump. ABC's president has asked you to do a break even ...
3 pages
Factset Cert Exam List
Apart from the consumer price index (CPI) and producer price index (PPI) what other key monthly indicator is often used to ...
Factset Cert Exam List
Apart from the consumer price index (CPI) and producer price index (PPI) what other key monthly indicator is often used to measure inflation in the ...
DePaul University Week 10 Chapter 12 Leadership Team at Rolls Royce Paper
Week 10 chapter 12 DBIn this board, you will examine the Brexit & Rolls Royce Case. Please watch the following video (the ...
DePaul University Week 10 Chapter 12 Leadership Team at Rolls Royce Paper
Week 10 chapter 12 DBIn this board, you will examine the Brexit & Rolls Royce Case. Please watch the following video (the Power Points accompanying the Video are located on Canvas). https://youtu.be/hpszPS_NvCkIn a single post, provide your answer to one of the case questions and provide one extra article on the impact of exchange rate risk on McDonald's. I found this article, which discusses how a strong dollar impacts McDonald's bottom line. The questions are attached
University of the Cumberlands Marketing Management Discussion
QUESTION 1Which of the following types of research methods typically involves discussions among a small number of customer ...
University of the Cumberlands Marketing Management Discussion
QUESTION 1Which of the following types of research methods typically involves discussions among a small number of customers led by an interviewer and is designed to generate insights and ideas about products and brands?Observational researchLong interviewsProjective techniquesFocus groupsQUESTION 2Nutricare Inc. is a leading distributor of health and beauty products in the United States. It wants to expand into the health drinks market segment. It collects data provided by the United States Department of Agriculture (USDA) to find the size of the target population. Identify the type of data Nutricare Inc. has collected in this scenario.Secondary dataPrimary dataA combination of primary and secondary dataBig DataQUESTION 3Which of the following observations about social classes in the United States is true?The middle class makes up more than half of the American population.The proportion of population belonging to the upper class in the U.S. is the smallest.The working class and lower Americans have identical demographic features, consumption goals, and economic capabilities.The social classes are the sole determining factor for the purpose of market segmentation.QUESTION 4The marketing team at Stacey Collins Inc. is conducting research to determine the reaction of consumers to its new line of genuine leather clothing. The team is drawing a sample and preparing the questionnaires it intends to send out to the sample. It is also deciding whether it will rely mostly on secondary data or primary data to make its decisions. Considering the five Ps of the marketing research process, the marketing team is currently involved in the:determination of research purpose.performance of the research.development of a research plan.processing of research data.QUESTION 5Which of the following is an example of a marketing influence on consumer behavior?Mani purchased the first pair of denim he saw rather than the Tough Guy pair he wanted since he was pressed for time.Hannah blamed her depression on her purchase of two quarts of Cal's chocolate chip ice cream.Aliya purchased jewelry at Zenia's Boutique because it had publicized a sale of up to 70 percent off on all its products.Jayla purchased $150 worth of aquatic plants because her companion convinced her that the plants would enhance the aesthetics of her aquarium.QUESTION 6Quite often a situation or problem is recognized as needing research, yet the nature of the problem is not clear or well defined, nor is the appropriate type of research evident. In the context of the steps of the marketing research process, this problem immediately lends itself to _____.identifying the purpose of the researchconducting the researchpreparing the research reportprocessing the research dataQUESTION 7Which of the following situational influences on consumer decision making includes an intent or requirement to select, shop for, or obtain information about a general or specific purchase?Current conditionsTask featuresSocial featuresPhysical featuresQUESTION 8Which of the following takes place during the processing of research data?Preparing the research reportChoosing between primary data and secondary dataRecording the maximal amount of useful informationInterpreting and assessing the research resultsQUESTION 9During the _____ stage of the research process, it should be decided whether the company will do its own research or contract with a marketing research specialist.report preparationdata processingperformanceplanningQUESTION 10Irene considers herself an expert on gourmet cuisine, and she has dined at many of the finest restaurants in the United States. On a recent trip to New Orleans, she refused to eat at a restaurant that was reported to have some of the best Cajun food because she thought the décor was tacky and outdated. Which situational influence explains Irene's refusal to eat at the restaurant?Marketing mixTask featuresReference groupsPhysical featuresQUESTION 11The first step in the research process is:to collect data and label data sets.to determine the appropriate marketing strategy based on findings.to prepare a research report.to determine why the research is needed and what it is to accomplish.QUESTION 12Which of the following is a benefit of observation as a method of data collection?It is accurate in measuring covert behavior.It is useful in studying cross-cultural differences.It can assess attitudes that cause certain behaviors.It can provide clear evidence of causal relationships.QUESTION 13According to Maslow's hierarchy, _____ will dominate when all needs are unsatisfied, and in such situations, none of the other needs will serve as a basis for motivation.physiological needssafety needsesteem needsself-actualization needsQUESTION 14While shopping for books and videotapes, Freda, usually a cheerful girl, selects the book "Happy Hours" from the bookshelf because she was feeling depressed and wanted to read something that would cheer her up. Which of the following situational influences guided Freda's purchasing decision?Time factorsCurrent conditionsTask featuresSocial featuresQUESTION 15Tracy has always wanted to become a doctor. She believes that her life's true calling is to help others and save lives. Tracy works two part-time jobs to pay for medical school. According to Maslow's hierarchy of needs theory, which of the following gives Tracy her drive and focus?Physiological needsSelf-dissonance needsSafety needsSelf-actualization needsQUESTION 16Which of the following statements about product involvement is true?Product knowledge is unrelated to product involvement.The level of product involvement with a product requiring routine decision is the same as that of a product requiring extensive decision making.Product involvement is independent of the group, marketing, and situational influences operating on a potential consumer.A high degree of product involvement encourages extensive decision making by consumers.QUESTION 17Which of the following statements is true of group sources of information for purchase decisions?They are obtained from a consumer's past experiences based on consumer groupthink and recall.They are conveyed through promotional activities by marketing managers advertising groups.They involve face-to-face conversations and social media.They involve handling, examining, and using a product as a group.QUESTION 18Which of the following kinds of research collects data by means of a feedback form through mail, phone, or in person?Experimental researchMathematical modelingSurvey researchObservational researchQUESTION 19If a market researcher is analyzing the current situation involving the problem to be researched, he or she is most likely working on the _____.performance of the researchpurpose of the researchpreparation of the research reportprocessing of research dataQUESTION 20For high-involvement products that require extensive decision making, marketers should provide consumers with:eye-catching advertisements and in-store displays to encourage them to make a purchase.factual information that highlights the competitive advantage of the products.ready availability of the products in a variety of outlets and at competitive prices.minimum information to encourage a quick purchasing process.QUESTION 21When buying clothes, consumers may shop at several stores and compare a number of different brands and styles before purchasing an item without resorting to a complex analysis of the pros and cons of each brand and style. Identify the type of decision making involved.Extensive decision makingLimited decision makingRoutine decision makingOptional decision makingQUESTION 22After an intense workout at the gym, Tim feels famished. On his way home, he stops to buy a burger and fries from a fast-food shop. Which of the following factors influenced Tim's recognition of a need?Internal stimuliExternal stimuliTask featuresSocial featuresQUESTION 23Isabel wants to open an art gallery in a neighborhood known for its large Hispanic population. However, she is apprehensive about whether or not the people in the neighborhood will be responsive to the unconventional art she sells. To make a decision, she obtains data from the National Statistics Institute which shows the career interests of the people of the neighborhood, most of them being in creative, unconventional fields. Which of the following types of data is she using to aid her decision making?Primary dataSecondary dataA combination of primary and secondary dataRaw dataQUESTION 24Which of the following is the final step of the research process?Processing of research dataData structuring and analysisPreparation of the research reportPerformance of the researchQUESTION 25Sarah is afraid she has over-planned her son's sixth birthday party. She is concerned the other parents will ridicule the fact that she hired a magician and a clown, rented three ponies, and arranged for a portable water slide to be installed for the party. Which of the following observations about Sarah's perceived risk is true?The purchases for the party have created equally strong notions of functional and psychological risks.Concern about what the other parents will think implies Sarah's perceived functional risks are high and perceived risks are low.Concern about what the other parents will think implies Sarah's perceived psychosocial risks are high.There are no perceived risks in this situation.QUESTION 26For a high-involvement product purchase, consumers are likely to:possess low awareness of product features.obtain a high degree of disengagement.develop a high degree of product knowledge.receive a low level of reference group influence.QUESTION 27Bay Shop, a consumer electronics retailer, wants to know how the shopping needs of its consumers vary according to the days of the week. For instance, consumers tend to buy expensive items over weekends and shop for necessary items—such as batteries—over the week. To obtain relevant data, the store uses the scanner data collected and stored in computer files from its checkout counters. Analysts will use equations to determine relationships between the variables. Which of the following research techniques is Bay Shop most likely using in this scenario?Projective techniquesMathematical modelingFocus groupsObservational researchQUESTION 28Which of the following is an example of a marketing source of information for making a purchase decision?An advertisement for a brand of macaroni and cheesePrevious experience with a car brandAn independent movie reviewA friend's review of a brand of doughnutsQUESTION 29Soy and Soup, a restaurant in the city of Uberlin, wants to open a vegan restaurant in the city of Prim. To ensure that Prim has a market for vegan food, Soy and Soup conducts research on the market. It sends out a team of researchers to conduct short interviews with the public asking a standard set of questions about the kinds of food they enjoy eating and whether they would like to eat at a restaurant that serves only vegan food. Which of the following research methods has Soy and Soup used in this scenario?Experimental researchArchival researchSurvey researchObservational researchQUESTION 30An article in a local newspaper ranks the facilities of nursing homes in the immediate neighborhood on the basis of cleanliness, staff-patient ratio, on-staff care providers, and other key determinants. This article would be a typical example of a(n) _____ source of information.marketingsocialexperientialpublicQUESTION 31In the context of market research, identify a problem that could invalidate test marketing study results.Test market areas are representative of the market in general in terms of population characteristics, competition, and distribution outlets.Test-market products are advertised or promoted below a profitable level for the market in general.The effects of factors that influence sales, such as the sales force, season, weather conditions, competitive retaliation, shelf space, and so forth, are considered in the research.The test-market period is too short to determine whether the product will be repurchased by customers.QUESTION 32Which of the following is a research method that deals with manipulating one variable and examining its impact on other variables?Marketing auditObservational researchArchival researchExperimental researchQUESTION 33_____ is the most common type of consumer decision process, and it is seen in operation in the way consumers purchase most packaged goods.Limited decision makingExtensive decision makingRoutine decision makingAlternative evaluationQUESTION 34Processing research data includes:preparing observational forms for data collection.obtaining and recording the maximal amount of useful information.collecting data by means of a questionnaire, either by mail or phone.editing, structuring, and coding data for statistical analysis.QUESTION 35In the context of social influences on consumer decision making, identify a true statement about reference groups.Reference group influence is generally considered to be weaker for products that are "public" or conspicuous.The nature of a product and the role an individual is playing during the purchasing process influence which reference group will be consulted.Reference group influence is generally considered to be constant across product categories.Family is secondary to peers as a reference group for people of all ages.QUESTION 36Marketeers Inc. conducts research to determine the reaction of its employees to certain organizational changes that have recently been implemented. The company wants detailed and personalized responses from a small number of participants within the company. It is willing to spend a large amount of money to get meaningful results. In this scenario, which data collection method will most likely give Marketeers Inc. the data it requires?Personal interviewsFocus groupsMail surveysObservationQUESTION 37Judgment and insight are needed to draw appropriate inferences and conclusions from research results because marketing research studies:imply significant relationships among variables.do not use econometric or statistical techniques.seldom obtain findings that are unambiguous.always use extremely large secondary data sets.QUESTION 38Jeremy, the manager at Orion Department Store, has noticed fluctuations in the sales of certain products after a change in the store layout. While certain products have shown an increase in sales, the sale of other products has declined considerably. Jeremy wants to make note of the areas of the store that customers frequent and those that they avoid. He hopes to gain sufficient insight in order to create a better store layout and get sales back to normal. In this scenario, Jeremy is most likely to use the method of _____.observational researchmathematical modelingexperimental researchprojective techniqueQUESTION 39In the past, marketing researchers were not extensively involved in:engaging in the technical aspects of the research.designing their research studies.making strategic recommendations based on research.collecting data.QUESTION 40Since consumers receive so much information from marketers and screen out a good deal of it, it is important for marketers to devise communications that:manipulate consumer perceptions in order to make them buy products.offer diverse messages about their products.minimize the amount of information they circulate about their products or brands.utilize appropriate media through which the consumers in the target market are reached.QUESTION 41What are the primary demands of lower Americans?Products that allow them to emulate upper AmericansProducts that are recommended by media expertsCost-efficient and popular productsFood, clothing, and other staplesQUESTION 42For which of the following purchases would a consumer most likely engage in extensive decision making?Purchase of a pair of pantyhose at a hotel gift shopPurchase of a cup of coffee from StarbucksPurchase of a pack of cat foodPurchase of a new carQUESTION 43Which of the following statements about marketing research is true?Marketing research that is executed carefully is free from errors.Marketing research is an aid to decision making.Marketing research is a substitute for decision making.Marketing research forecasts with certainty what will happen in the future.QUESTION 44_____ involves interacting with a single respondent for several hours and is designed to find out the meanings various products and brands have for an individual.Observational researchA long interviewMathematical modelingAn experimentQUESTION 45Which of the following is a benefit of using projective techniques as a method of data collection?They are useful in word association tests of new brand names.They minimize the need for trained and experienced interviewers.They substantially reduce the cost per interview in the research study.They provide a broad geographic dispersion for a marketing research study.QUESTION 46Warner Implants, a pioneer in the industry for medical implants, launched a revolutionary cardiac implant in the year 2000. As part of its promotional strategy, the marketing team at Warner Implants conducted individual discussions with a few customers. These discussions were aimed at understanding the meaning its implants brought to the lives of the customers. This scenario best illustrates the use of _____ as a mode of research.observationmathematical modelingexperimentslong interviewsQUESTION 47Secondary reference groups include _____.familyclose friendsspouse and childrencollege associationsQUESTION 48A drawback of using Internet surveys as a data collection method in marketing research is that:they take a long time to be executed.they make real-time data processing impossible.they pose difficulties in generating sample frames for probability sampling.they create a high degree of perceived intrusion as respondents cannot answer the questions at their convenience.QUESTION 49Which of the following is a significant characteristic of lower Americans?Access to food stampsEmphasis on family tiesFocus on recreational aspectsConcern with fashionQUESTION 50A marketer of yo-yos wants to know how an increase in price will affect its sales. It uses a test store where it increases the price of the yo-yos by 15 percent and then studies its impact on sales. Comparing its sales in the test store with those in other stores provides information about the likely impact of a price change in the overall market. Identify the type of market research method most likely used in this scenario.Experimental researchMathematical modelingObservational researchFocus group
Earn money selling
your Study Documents