FIFO stands for First In First Out and LIFO stands for Last In First Out.
Answer: LIFO produces more favorable cash flow because LIFO PRODUCES LOWER INCOME TAX EXPENSE.
During inflation, LIFO approach is adopted for tax benefits. With the rise in prices, LIFO produces higher cost of sold amounts of goods.
Integrated marketing communications (IMC): "Refers to the coordination of all promotional activities to produce a unified, customer-focused promotional message."
<h3>What is Integrated marketing communications
(IMC)?</h3>
IMC is described as "a planning process meant to ensure that all brand contacts for a product, service, or organisation received by a consumer or prospect are relevant to that person and consistent across time" by the American Marketing Association.
The importance of IMC are-
- To effectively deliver a single message to both potential and current end users, integrated marketing communication helps integrate all key marketing components.
- At a low cost, integrated marketing communication can significantly increase consumer brand recognition.
- Any marketing initiative that employs many channels is considered integrated marketing. For instance, you might see a commercial for a popular new doughnut flavour, then drive by the donut store and see posters of the donut.
To know more about integrated marketing communications (IMC), here
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Answer:
Explanation:
Higher real interest rates reduces aggregate expenditure by increasing the cost of loans while increasing the earnings from savings. Both factors reduce expenditures by reducing consumption and investments, and therefore, aggregate expenditure.
Answer:
Option (b) is correct.
Explanation:
In 2010,
Real GDP = 600,000
Population = 5,000
Real GDP per person:
= Real GDP ÷ Population
= 600,000 ÷ 5,000
= 120
In 2011,
Real GDP = 636,480
Population = 5,200
Real GDP per person:
= Real GDP ÷ Population
= 636,480 ÷ 5,200
= 122.4
Growth rate of real GDP per person during the year 2011:
= [(Real GDP per person in 2011 - Real GDP per person in 2010) ÷ Real GDP per person in 2010] × 100
= [(122.4 - 120) ÷ 120] × 100
= (2.4 ÷ 120) × 100
= 0.02 × 100
= 2%
It was seen from the data available on the world bank that the United states real GDP per person is growing at an average rate of 2% between 1910 and 2010.
Hence, the Growth rate of real GDP per person during the year 2011 is about the same as average U.S. growth over the last one-hundred years.
