You Have Been Asked to Try a Firm's New Line

question 10

Multiple Choice

You have been asked to try a firm's new line of potato chips at no cost to you. Now you have been approached by the firm and asked if you would pay $1.00 per bag for these chips (regular price $1.99) or would you prefer your regular brand of potato chips. You choose your favourite brand of chips instead. The firm then offers you the option of purchasing their chips for $.90 per bag. You are participating in a

• A) controlled test market.
• B) sales-wave research.
• C) commercialization of a new product.
• D) test market.
• E) simulated test market.

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Definitions:

Trial Balance

A list of all general ledger accounts and their balances at a particular time, ensuring that debits equal credits in the double-entry accounting system.

Normal Balances

The side (debit or credit) of an account that is expected to have a higher balance given the account type's role in accounting.

Ledger

A book or collection of financial accounts in which the two-fold effect of transactions are recorded.