Question: Marketing management is ____________?

• 1. Managing the marketing process
• 2. Monitoring the profitability of the companies products and services
• 3. Developing marketing strategies to move the company forward
• 4. The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value,

Question: The most formal definition of marketing is ____________?

• 1. Meeting needs profitably
• 2. Identifying and meeting human and social needs
• 3. The 4Ps (Product, Price, Place, Promotion)
• 4. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders.

Question: Marketing is both an “art” and a “science” there is constant tension between the creative side of marketing and the ________ side.

• 1. Selling side
• 2. Formulated side
• 3. Management side
• 4. Forecasting side

Question: The fifth step in process costing system is to ___________?

• 1. allocate separable costs
• 2. allocate joint costs
• 3. compute gross margin
• 4. assign total cost to completed units

Question: The forth step in process costing system is to __________?

• 1. summarize total costs
• 2. compute cost for each equivalent unit
• 3. summarize flow of output
• 4. compute output in units

Question: The costing method, which calculates per equivalent unit cost of all the production related work done, till calculated date is termed as __________?

• 1. weighted average method
• 2. net present value method
• 3. Gross production method
• 4. net present value method

Question: The second step in processing costing system is to ___________?

• 1. summarize total costs
• 2. compute cost for each equivalent unit
• 3. summarize flow of output
• 4. compute output in units

Question: If the total incurred cost in a production process are $30000 and the number of output units are 5000 units, then the units cost will be __________?

• 1. $16
• 2. $60
• 3. $6
• 4. $26

Question: If the cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be __________?

• 1. $10
• 2. $100
• 3. $1,000
• 4. $1,200

Question: The third step in process costing system is to ____________?

• 1. summarize flow of output
• 2. compute output in units
• 3. summarize total costs
• 4. compute cost for each equivalent unit