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Questions
Q:
Which of the following strategies allows a firm greater control of the image of a brand?
a. direct marketing
b. indirect marketing
c. market-based distribution
d. intermediary-based distribution
e. market-based channeling
Q:
What type of marketing system relies on direct selling of a product or service to consumers or end users without the use of an intermediary?
a. international marketing system
b. direct marketing channel
c. indirect marketing channel
d. intermediary marketing channel
e. market-based channel
Q:
Convenience goods tend to be distributed using which form?
a. exclusive
b. extensive
c. selective
d. intensive
e. worldwide
Q:
Which of the following is factor that affects distribution decisions in foreign markets that is not always a consideration in home country markets?
a. price
b. quality
c. competition
d. infrastructure
e. price stability
Q:
French luxury-goods manufacturer, LVMH, markets products worldwide by utilizing what kind of distribution strategy, emphasizing one retailer per market?
a. exclusive distribution
b. selective distribution
c. intensive distribution
d. extensive distribution
e. dual distribution
Q:
Which of the following is an international marketing strategy that focuses on offering products through only one wholesaler or retailer in a particular market area?
a. exclusive distribution
b. selective distribution
c. intensive distribution
d. extensive distribution
e. dual distribution
Q:
When a company uses a strategy of using only a limited number of channel intermediaries in the international program, they are using which of the following?
a. exclusive distribution
b. selective distribution
c. intensive distribution
d. extensive distribution
e. dual distribution
Q:
Which of the following is an international marketing strategy in which products are distributed through as many wholesalers and retailers as possible in a particular market?
a. exclusive distribution
b. selective distribution
c. intensive distribution
d. extensive distribution
e. dual distribution
Q:
International marketing channel decisions include all of the following EXCEPT ______.
a. distribution intensity
b. selection of distribution channels
c. managing distribution channels
d. physical distribution
e. distribution positioning
Q:
Which set of activities concentrate on sending a product or supplies to another channel member, usually for resale?
a. intermediary activities
b. logistical activities
c. downstream activities
d. distribution activities
e. upstream activities
Q:
Which set of activities focuses on bringing a product or supplies into a company?
a. intermediary activities
b. logistical activities
c. downstream activities
d. distribution activities
e. upstream activities
Q:
The process by which products and services flow between international producers, companies that act as intermediaries, and consumers is which of the following?
a. international distribution
b. international logistics channel
c. global marketing system
d. international marketing system
e. international marketing channels
Q:
Which of the following is a marketing system that promotes the physical flow and ownership of products and services from producer to consumer?
a. international distribution system
b. international logistics channel
c. global marketing sys tem
d. international marketing system
e. international marketing channel
Q:
Discuss the various forms of channel member power as described in the text. Provide an example of each form and how it relates to international marketing channel management.
Q:
Discuss what is meant by a gray market. How do gray markets affect international marketing practices?
Q:
List and describe the key elements of managing international distribution channels as discussed in the text. Illustrate how each of these elements affects international distribution decisions.
Q:
Describe what is meant by intensive distribution, selective distribution, and exclusive distribution. Use examples of products that are marketed internationally to illustrate each of these concepts.
Q:
List and describe the various marketing channel decisions that are discussed in the text. Use an example of an international marketing channel of your choice to discuss your responses.
Q:
International marketing channel structure is impacted by cost, coordination, coverage, cooperation, and control issues.
a. True
b. False
Q:
A letter of credit is issued by a producer to a customer to indicate how much credit is available on a particular account.
a. True
b. False
Q:
Discrepancies of assortment include sorting out, accumulating, allocating, and assorting.
a. True
b. False
Q:
Performing market research duties is not a typical function provided by international marketing channel members.
a. True
b. False
Q:
Hofstedes cultural dimensions play an important role in international negotiations.
a. True
b. False
Q:
Negotiators often plan for what is known as BATNA, or the best alternative to a negotiated agreement.
a. True
b. False
Q:
The negotiation process as it applies to international marketing begins with preparation for negotiations and ends with closing a deal.
a. True
b. False
Q:
Power bases in international marketing channels include legitimate, referent, expert, reward, and cooperative.
a. True
b. False
Q:
Two major types of channel conflict are horizontal and vertical conflict.
a. True
b. False
Q:
Channel captains coordinate the marketing tasks provided by channel members.
a. True
b. False
Q:
Parallel importing is a gray market process in international marketing.
a. True
b. False
Q:
Horizontal integration exists when a company acquires or merges with another company at the same level of the distribution channel.
a. True
b. False
Q:
The Spanish clothing retail chain Zara uses a backward integration strategy as it produces many of its products in-house by producing its own products.
a. True
b. False
Q:
Vertical integration means that one member of a market channel merges with or acquires another intermediary.
a. True
b. False
Q:
International marketers usually select push or pull strategies, but they rarely use both.
a. True
b. False
Q:
A push strategy means that a producer concentrates on stimulating consumer demand through extensive advertising and consumer promotions.
a. True
b. False
Q:
A pull strategy focuses on providing intermediaries with incentives that will lead them to cooperate in marketing an international product.
a. True
b. False
Q:
International distribution decisions are largely impacted by country infrastructure development.
a. True
b. False
Q:
Political, geographical, economic, and cultural differences influence international distribution decisions.
a. True
b. False
Q:
International distribution system selection factors include type of product, price, competition, brand image, and target market considerations.
a. True
b. False
Q:
Japanese consumers make few trips to retailers which mean numerous large retail stores exist in the country.
a. True
b. False
Q:
International marketing channels differ significantly in both length and complexity.
a. True
b. False
Q:
A freight forwarder provides shipping, documentation, customs clearance and brokerage, consolidation, storage, and insurance for international marketers.
a. True
b. False
Q:
The chaebols of South Korea are similar in many ways to the Japanese keiretsus.
a. True
b. False
Q:
Trading companies are rare in the Pacific Rim.
a. True
b. False
Q:
Discuss the various international financing factors that affect international pricing that are discussed in the text including exchange rate fluctuations, price escalations, and administered prices. How do these issues affect international marketing strategy?
Q:
Discuss the various forms of countertrade that are presented in the text. Use examples to illustrate each form of countertrade.
Q:
Describe the concepts of currency regimes, floating exchange rates, fixed exchange rates, revaluation, and devaluation, and how they apply to international marketers. Why should international marketers pay close attention to these issues?
Q:
Discuss the various factors that influence currency movement, including individual and business transactions, inflation, interest rates, and trade and investment activity. Explain why international marketers need to monitor these developments.
Q:
List and describe the various properties of money that are presented in the text. Use an example of a currency to illustrate the various properties of money and how that currency satisfies each property.
Q:
An international marketers profit is only weakly impacted by international finance issues.
a. True
b. False
Q:
Administered prices can be used for sensitive, high-demand, or essential products.
a. True
b. False
Q:
Administered prices are set by a government, often in an attempt to weaken foreign competitors.
a. True
b. False
Q:
Price escalations are realized as the price of a product increases as it moves from one country to another because of transportation, middlemen, tariffs, and other expenses.
a. True
b. False
Q:
Buy-back countertrades are trade deals in which products are exchanged for cash.
a. True
b. False
Q:
Terms of trade refers to an agreed-upon payment in return for goods and services.
a. True
b. False
Q:
Hedging refers to any financial process that lessens financial risk.
a. True
b. False
Q:
Forward rates are the exchange rates for a previous transaction that is projected into the future.
a. True
b. False
Q:
Forward rates are the exchange rates for the delivery of a currency at a specific time in the future.
a. True
b. False
Q:
The Bretton Woods agreement established a global currency system.
a. True
b. False
Q:
The primary responsibility of the International Monetary Fund is currency stabilization.
a. True
b. False
Q:
Revaluation refers to a government increase in the par value of a currency under a fixed-rate regime.
a. True
b. False
Q:
A fixed or pegged regime sets a predetermined band or par value for a currency.
a. True
b. False
Q:
A floating exchange rate occurs when the value of a currency is allowed to respond freely to market forces.
a. True
b. False
Q:
Which of the following procedures would an auditor most likely perform to verify management's assertion of completeness?
A. Compare a sample of shipping documents to related sales invoices.
B. Observe the entity's distribution of payroll checks.
C. Confirm a sample of recorded receivables by direct communication with the debtors.
D. Review standard bank confirmations for indications of kiting.
Q:
You are auditing a manufacturing company that has a large production facility. Some of the production equipment is held through lease agreements. Which of the following is the account balance assertion you would be most concerned about?
A. Existence or occurrence.
B. Completeness.
C. Rights and obligations.
D. Accuracy.
Q:
You are auditing a store that sells merchandise. Some of the store merchandise is held on consignment. Which account balance assertion for inventory should you be most concerned about verifying?
A. Existence or occurrence.
B. Completeness.
C. Rights and obligations.
D. Valuation or allocation.
Q:
All of the following are typically in the current file except:
A. Adjusting journal entries.
B. Copies of the audit report.
C. Chart of accounts.
D. Lead schedules.
Q:
Audit documentation prepared on audits of public entities is the property of the
A. Shareholders.
B. Auditor.
C. Management of the entity being audited.
D. SEC.
Q:
An example of audit evidence with a medium level of reliability is
A. Scanning.
B. Recalculation.
C. Observation.
D. All of these.
Q:
The permanent (continuing) file of an auditor's working papers most likely would include copies of the
A. Bank statements.
B. Debt agreements.
C. Lead schedules.
D. Attorney's letters.
Q:
Which of the following show the detailed general ledger accounts that make up a financial statement category on the auditor's working trial balance?
A. Account analyses.
B. Supporting schedules.
C. Control accounts.
D. Lead schedules.
Q:
The third general auditing standard requires that due professional care be exercised in the performance of the examination and the preparation of the report. Due professional care deals with what is done by the independent auditor and how well it is done. For example, due care in the matter of audit documents requires that audit documents'
A. Format be neat and orderly and include both a permanent file and a general file.
B. Content be sufficient to provide support for the auditor's report, including the auditor's representation as to compliance with auditing standards.
C. Ownership is determined by the legal statutes of the state where the auditor practices.
D. Preparation is the responsibility of assistants whose work is reviewed by seniors, managers, and partners.
Q:
Of the following, which is the least persuasive type of audit evidence?
A. Documents mailed by outsiders to the auditor.
B. Correspondence between the auditor and third party vendors.
C. Copies of company sales invoices inspected by the auditor.
D. Computations made by the auditor.
Q:
Which of the following presumptions does not relate to the appropriateness of audit evidence?
A. The more effective the internal control system, the more assurance it provides about the accounting data and financial statements.
B. An auditor's opinion, to be economically useful, is formed within a reasonable time and based on evidence obtained at a reasonable cost.
C. Evidence obtained from independent sources outside the entity is more reliable than evidence secured solely within the entity.
D. The independent auditor's direct personal knowledge, obtained through observation and inspection, is more persuasive than information obtained indirectly.
Q:
To test for unsupported entries in the ledger, the direction of audit testing should start from the
A. Ledger entries.
B. Journal entries.
C. Externally generated documents.
D. Original source documents.
Q:
In determining whether transactions have been recorded, the direction of the audit testing should start from the
A. General ledger balances.
B. Adjusted trial balance.
C. Original source documents.
D. General journal entries.
Q:
Footing is an example of
A. Recalculation.
B. Confirmation.
C. Inquiries.
D. Analytical procedures.
Q:
In designing written audit programs, an auditor should plan specific audit procedures to test
A. Timing of audit procedures.
B. Cost-benefit of gathering evidence.
C. Selected audit techniques.
D. Management assertions.
Q:
Vouching is used primarily to test which of the following assertions about classes of transaction?
A. Occurrence.
B. Completeness.
C. Authorization.
D. Classification.
Q:
Tracing is used primarily to test which of the following assertions about classes of transactions?
A. Occurrence.
B. Completeness.
C. Cutoff.
D. Classification.
Q:
Which assertions may be tested for the "presentation and disclosure" category of management assertions?
A. Existence, rights and obligations, cutoff and classification, completeness, accuracy and valuation.
B. Occurrence, rights and obligations, existence, accuracy and valuation, cutoff and classification.
C. Occurrence, completeness, classification and understandability, cutoff and classification.
D. Occurrence, rights and obligations, completeness, classification and understandability, accuracy and valuation.