Answer:
True.
Explanation:
In Business management, customer relationship management (CRM) can be defined as the basic combination of strategies, technologies, techniques and practices for the management and evaluation of customer interactions and informations with the company's past, current and potential customers, for the purpose of increasing sales, growth and improving customer satisfaction.
A basic customer relationship management (CRM) premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers. In order to build a mutual and strong customer relationships, it is very important and essential to create a communication medium. Companies shouldn't just engage in a one-sided business transactions with their customers, it is important and essential that they try to find out what the wants or basic needs of their customers is. Consequently, they would then be able to proffer a solution or inform them that they have a solution to meet the customer's wants or requirements.
<em>Hence, in order to build a seemingly and effective customer relationship management, companies should ensure they employ competent and professional managers who has a good listening ear and pays so much attention to details. </em>
Answer:
Command economy
Closed Economy
Traditional Economy
Mixed Market Economy
Explanation:
A command Economy stresses the equality of all citizens.e. g Cuba and North Korea
A closed economy aims to be self sufficient with all activities confined to its economy.e.g Brazil's economy.
A traditional economy being the oldest form of economy upholds culture and history and as such relies more on bartering than money. It is mostly common in emerging markets and developing countries.
A mixed economy encourages private businesses with a degree of state monopoly.Example is the USA's economy.
Answer:
The correct answer is A
Explanation:
Economic growth is defined as the rise in the capacity of the economy for producing or manufacturing the goods and services as compared from one year to another.
And the economic growth is determined in terms of GNP (Gross National Product) or in terms of GDP (Gross Domestic Product).
So, if the nation want to accomplish the higher level of economic growth, then the nation should devote more amount of resources in R & D (research and development).
Answer: A - Emphasizes the external financial statements
Explanation: The characteristic of management accounting information are what makes the accounting information relevant and they include:
1. Verifiability: Management Accounting information must be verifiable that is one must be able to confirm the information on the accounts using other source documents.
2. Objectivity: Management Accounting information must be useful in decision making and planning for the future of an organisation.
3. Relevance: Management Accounting information must be reliable for decision making. The owners and decision makers must be able to rely on the information presented in the management account
4. Understandability: Management Accounting information must be understood by any user of the information presented therein. Information therein must be simple and not complex.
5. Comparability: Management Accounting information must be easy to compare with others in the same industry and also from year to year to enhance a good decision making process.
Answer:
C. $16 of overhead cost should be assigned to each standard handbag and $40 of overhead cost should be assigned to each deluxe bag.
Explanation:
Given that
Total indirect manufacturing expected = $52000
And,
Total hours required to manufacture handbags is
= (2,000 standard handbags × 2 hours) + (500 deluxe handbags × 5 hours)
= 4,000 + 2,500
= 6,500
So,
Indirect cost per hour is
= $52000 ÷ 6500
= $8 per hour
Now
Cost allocated to standard handbags is
= $8 × 2
= $16
And, for deluxe handbag it is
= $8 × 5
= $40
