Which of the Following Is the BEST Example of Management

question 188

Multiple Choice

Which of the following is the BEST example of management thinking during the "production era"?

• A) "The more we advertise a product, the more we can sell."
• B) "We need to increase our sales effort-to sell what we can produce."
• C) "If we can produce it, customers will buy it."
• D) "We need to be selective and produce what customers want."
• E) "The lower we price a product, the more we can sell."

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Definitions:

Voluntary Winding Up

A process initiated by a company's shareholders to close the company, selling off its assets to pay creditors and distributing any remaining assets to shareholders.

Receivership

The first form of external administration prescribed by the Corporations Act. Receivership involves a receiver, receiver–manager or controller being appointed by a court or by secured creditors in order to protect the security of those creditors.

Liquidation

The third form of external administration prescribed by the Corporations Act. The process whereby a company is dissolved, at which point the company ceases to be a legal entity.