Concerning the "Universal Functions of Marketing," Which of the Following

question 156

Multiple Choice

Concerning the "universal functions of marketing," which of the following statements is FALSE?

• A) These functions can be performed by producers, intermediaries, collaborators, or consumers.
• B) Responsibility for performing these functions can be shared and shifted.
• C) From a micro viewpoint, not every company must perform every function.
• D) From a macro viewpoint, all these functions must be performed by someone.
• E) None of the above is false.

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Definitions:

Predetermined Overhead Rate

A rate used to charge manufacturing overhead cost to jobs that is established in advance for each period. It is computed by dividing the estimated total manufacturing overhead cost for the period by the estimated total amount of the allocation base for the period.

Costing System

A method for assessing and allocating costs of production, typically involving direct costs, indirect costs, and overheads.

Washing Mitt

A tool made of soft material used for washing surfaces, typically vehicles, without causing scratches.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to related products and services based on the activities they require.