3M's Pricing Strategy for Its Post-It^® Flag Highlighters Was as Follows

question 57

Multiple Choice

3M's pricing strategy for its Post-it^® Flag Highlighters was as follows:

• A)match its principal competitors' highlighters' prices.
• B)charge a price that would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M.
• C)set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated.
• D)make the product easier to purchase by placing the Post-it^® Flag Highlighter in discount office supply retailers.
• E)use the same pricing strategy as its 3M's Post-it^® Flag and Post-it^® Note offerings.

Understand the function and recording of petty cash transactions including the establishment and replenishment of petty cash funds.

Identify internal control procedures for managing cash receipts and disbursements.

Analyze the role of cash management in business operations, including bank reconciliations and the handling of cash overages and shortages.

Distinguish between the various types of adjustments needed for a proper bank reconciliation.

---

Definitions:

Voter Turnout

The percentage of eligible voters who cast a ballot in an election, an important measure of democratic engagement.

Enfranchised

Refers to giving someone the right to vote in political elections.

Voters

Individuals who have the right to participate in electing leaders and voting on laws and policies in a democratic society.

Turnout Rate

The percentage of eligible voters who cast a ballot in an election.