When Setting Objectives for the Whole Firm,top Management Should

question 85

Multiple Choice

When setting objectives for the whole firm,top management should

• A)involve the marketing manager in the process.
• B)set objectives that focus on the highest possible immediate profit potential.
• C)stick to general objectives,in order to maintain flexibility.
• D)set objectives beyond what can actually be achieved,so everyone will work harder.
• E)All these approaches are useful when setting objectives.

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Definitions:

Proper Tender

The act of presenting an exact amount of money in the appropriate form as payment for a debt or obligation.

Endorsers Discharged

Refers to the situation where endorsers (persons who sign documents, typically negotiable instruments, to endorse them) are released from their obligations under the instrument.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a specified sum of money either on demand or at a specified future date.

Discharged Liability

Refers to a debt or obligation that has been fulfilled, canceled, or extinguished, relieving the debtor of any further responsibility.