An Error or Omission Is Considered to Be Material If

question 23

Multiple Choice

An error or omission is considered to be material if:

• A) The act was intentional.
• B) The results would have affected the judgment of a reasonable user.
• C) The act was unintentional.
• D) The omission was more than $100,000.

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Definitions:

Marketing Mix

The set of actionable marketing tools—Product, Price, Place, Promotion—that a company uses to pursue its marketing objectives in the target market.

Right Price

The optimum price point for a product or service where it meets the customer's value perception and the company's profitability goals.

Reasonable Price

A price that is fair and appropriate for the value of the goods or services being provided, often considered from the perspective of the average consumer.

Lawn Mowers

Machines or devices equipped with revolving blades or a blade that cuts a lawn at a consistent height.