Sales
Question : Statement 1: The marketing concept does not focuses on building customer relationships and creating value.
Statement 2: Selling concept emphasizes aggressive promotional activities to drive sales.
Option 1: Both statements are correct.
Option 2: Statement 1 is correct, and statement 2 is false.
Option 3: Both statements are incorrect.
Option 4: Statement 2 is correct, and statement 1 is incorrect.
Correct Answer: Statement 1 is correct, and statement 2 is false.
Solution : The correct answer is (d).Statement 1 is incorrect.
The marketing concept focuses on building customer relationships and creating value. It assumes that customers are more likely to buy products or services from companies that they perceive as
Question : Assertion: Sales promotion techniques aim to boost long-term customer loyalty
Reason: Sales promotion techniques focus solely on short-term sales increases.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Assertion is true, but the reason is false.
Solution : The correct answer is (c) Assertion is true, but the reason is false.
The assertion is true. Sales promotion techniques do aim to boost customer loyalty, but they also aim to achieve short-term sales increases. While the immediate
Question : Case Study: XYZ Manufacturing Company
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. They have been facing increased competition and declining sales in recent years. The management is looking for ways to revamp their production processes and regain market share.
One of the characteristics of effective planning that XYZ Manufacturing Company should focus on is:
Option 1: Lack of flexibility
Option 2: Ambiguous objectives
Option 3: Measurable and specific goals
Option 4: Ignoring external opportunities
Correct Answer: Measurable and specific goals
Solution : The correct answer is (c) Measurable and specific goals
Having measurable and specific goals is crucial for effective planning. Clear objectives provide a basis for making decisions, allocating resources, and evaluating progress. Measurable and specific goals allow the company to track performance
Question : A, B and S were partners sharing profits in the ratio 2: 2: 1. On July 1, 2017, Shreya died. The books of accounts are closed on March 31 every year. Sales for the year 2016-17 amounted to Rs.5,00,000 and that from 1st April to 30th June 2017 were Rs. 1,40,000. The rate of profit during the past three years had been 10% on sales. Since S's legal representative was her only son, who is specially abled, it was decided that the profit for the purpose of settling S's account is to be calculated as 20% of sales.
Calculate S's share of profits till the date of her death and pass the necessary journal entry for the same.
Option 1: Debited profit and loss account by Rs 5,600 and credited S's capital account
Option 2: Debited profit and loss suspense account by Rs 5,600 and credited S's account
Option 3: Debited S's capital account and credited profit and loss suspense account
Option 4: None of the above
Correct Answer: Debited profit and loss suspense account by Rs 5,600 and credited S's account
Solution : Answer = Debited profit and loss suspense account by Rs 5600 and credited S's account Sales (IApril to Dure 30,2017)=1,40,000 Profit= $1,40,000 \times \frac{20}{100}$= 28,000. Shreys's share= $28000 \times \frac{1}{5}$= 5,600 Protit and
Question : Statement 1: Societal marketing concept integrates social responsibility into business strategies.
Statement 2: Selling concept solely focuses on generating short-term sales.
Correct Answer: Both statements are correct.
Solution : The correct answer is (a) Both statements are correct.
Statement 1 is correct. The societal marketing concept does indeed integrate social responsibility into business strategies. It emphasizes not only satisfying customer needs but also considering broader societal concerns and ethical considerations in
Question : Which of the following is an example of an appropriation in a government budget?
Option 1: Income tax revenue
Option 2: Sales tax revenue
Option 3: Military spending
Option 4: Social security benefits
Correct Answer: Military spending
Solution : The correct answer is (c) Military spending
Military spending is an example of an appropriation because it represents a specific allocation of funds for defense and military-related purposes. It includes the budgetary provisions for maintaining armed forces, acquiring weapons and equipment, supporting military operations,
Question : Statement 1: Marketing concept focuses on delivering superior value to customers.
Statement 2: Selling concept solely relies on product features to drive sales.
Solution : The correct answer is (b) Statement 1 is correct, and statement 2 is false.
Statement 1 is correct. The marketing concept indeed focuses on delivering superior value to customers. It emphasizes understanding and meeting customer needs and
Question : Statement 1: Selling concept focuses on building long-term customer loyalty through value creation.
Statement 2: Marketing concept solely relies on aggressive advertising for sales.
Correct Answer: Both statements are incorrect.
Solution : The correct answer is (c) Both statements are incorrect.
Statement 1 is incorrect. The selling concept primarily focuses on short-term sales and transactions rather than building long-term customer loyalty. It often involves aggressive sales tactics to close deals.
Statement 2 is false.
Question : Statement 1: Sales promotion techniques aim to boost short-term sales.
Statement 2: Sales promotion techniques do not impact consumer behavior and loyalty.
Option 4: Statement 2 is correct, and statement 1 is false.
Solution : The answer is (b) Statement 1 is correct, and statement 2 is false.
Statement 1 is correct. Sales promotion techniques are designed to boost short-term sales by offering incentives to consumers to purchase a product or service.
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