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Terms and Concepts from Chapter 2
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QUESTION
Indicate using a (+), (–), or (0) whether each of the following events would probably cause accounts receivable (A/R), sales, and profits to increase, decrease, or be affected in an indeterminate manner: $$ \begin{matrix} \text{ } & \text{A/R} & \text{Sales} & \text{Profits}\\ \text{The firm restricts its credit standards.}\\ \text{The terms of trade are changed from 2/10, net 30, to 3/10, net 30.}\\ \text{The terms are changed from 1/20, net 30, to 3/10, net 40.}\\ \text{The credit manager gets tough with past-due accounts.}\\ \end{matrix} $$
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Other Quizlet setsRelated questionsWhat documents an organization's purpose what it wants to accomplish in the larger environment?
A great mission statement is a foundational element of good strategy because it helps define your organization's core purpose, serving as a vantage point from which to look down the road. Combined with your vision statement, it helps define why your organization exists and where you are going in the future.
Which of the following is a statement of the organization's purpose defined as what it wants to accomplish in the larger environment?
A mission statement defines what line of business a company is in, and why it exists or what purpose it serves. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization.
Which term refers to the set of tactical marketing tools product price place and promotion that the firm blends to produce the response it wants in the target market?
"The set of controllable tactical marketing tools that the firm blends to produce the response it wants in the target market (Kotler et al. 1999: 109)."
Which presents a brief summary of the main goals and recommendations of the plan for management review?
Executive Summary
It presents a summary of the main goals and recommendations to be presented in the plan. The executive summary helps top management to locate the plan's major points quickly.