Figure 2-11 -Based on the Sales Revenue Data Shown in Figure 2-11

question 229

Multiple Choice

Figure 2-11
-Based on the sales revenue data shown in Figure 2-11, as a marketing manager for Apple, you would most likely conclude that

• A) the planning gap is narrowing.
• B) the actual sales results (line B
• E) are on track with the new plan (line B
• D).
• C) the actual sales results (lines AB and B
• E) are on track with the 2005 plan (line B
• C).
• D) sales are increasing significantly since 2005 (line B
• D).
• E) another new plan has been needed since 2005, since the planning gap (wedge DB
• C) is widening each year thereafter.

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Definitions:

Current Liabilities

Obligations or debts that a company must pay within one year or within the normal operating cycle.

Federal Depository Bank

A financial institution that is authorized to hold deposits for the Federal Reserve System and process related transactions.

Payroll Taxes

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff, including social security and Medicare taxes in the United States.

Contingent Liabilities

Potential financial obligations that may occur depending on the outcome of a future event.