Which of the Following Statements Is True

question 8

Multiple Choice

Which of the following statements is true?

• A) Firms in consumer goods industries that are trying to sell to a large segment of the market generally favor a push strategy.
• B) Mass communication has cost advantages for firms in consumer goods industries that are trying to sell to a large segment of the market.
• C) Direct selling may be the only way to reach consumers in poor nations with low literacy levels.
• D) Firms that sell industrial products or other complex products favor a pull strategy.

Understand defenses available against payment and conditions affecting the negotiability of instruments.

Recognize various types of checks and drafts, and their unique characteristics and purposes.

Grasp the requirements for an instrument to be considered negotiable, including the necessity of a fixed amount and the absence of conditions to payment.

Learn about the impact of specific phrases and conditions on the negotiability of an instrument.

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Definitions:

Reduced Inventory

Reduced inventory involves minimizing the amount of goods or materials held in stock to lower costs, reduce waste, and increase efficiency in production and distribution processes.

JIT

Just-In-Time, an inventory management strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

TPS

Toyota Production System, a manufacturing methodology focused on reducing waste and improving efficiency and quality.

Lean Systems

Lean systems are management philosophies that focus on minimizing waste within manufacturing systems while simultaneously maximizing productivity.