The Explosion of the BP Oil Rig and Subsequent Oil

question 25

Multiple Choice

The explosion of the BP oil rig and subsequent oil spill in the Gulf of Mexico was one of the worst disasters affecting the U.S.in this century.There was a tremendous loss of sea life.Commercial fishermen and other businesses suffered from the loss of trade.After the massive disaster and tragedy,Tony Hayward,then CEO of BP,offended many people when he was quoted in several newspapers as saying,"I would like my life back." Sadly,BP did not solicit this promotion.Marketers refer to this type of message as _____________,an unpaid form of promotion.

• A)publicity
• B)advertising
• C)viral marketing
• D)propaganda

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Definitions:

Deferred Tax Liability

A financial obligation recorded on a company's balance sheet that results from a difference in the timing of when income is earned and when it is taxable.

Installment Sales

Revenue recognition method allowing income to be realized at the time of sale but received through regular payments over time.

Contingent Liability

A potential financial obligation that may arise depending on the outcome of a future event.