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Mixed Quiz
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1

A product development strategy does not rely on taking market share from competitors.
A)True
B)False
2

The value-added chain is usually available only to small, local firms.
A)True
B)False
3

One of the most successful diversification strategies is to diversify into related products or related markets to spread the risk.
A)True
B)False
4

When cash flow problems are discovered, the pro forma budgeted amounts should be changed.
A)True
B)False
5

The FIFO system of valuing inventory gives less true inventory and cost of goods sold values.
A)True
B)False
6

The penetration growth strategy:
A)focuses on developing comparable products for the existing market.
B)relies on taking market share from competitors.
C)expands the firm's product offering with comparable products.
D)all of the above.
7

______ strategies involve selling a comparable product to an established market.
A)Penetration
B)Market development
C)Product development
D)Diversification
8

Which of the following would be a recommended diversification strategy?
A)Backward integration
B)Horizontal integration
C)Forward integration
D)All of the above.
9

Inventory control:
A)is not necessary for small firms.
B)eliminates the need to carry inventory.
C)balances the cost of carrying inventory with the cost of lost sales.
D)requires a computerized inventory system.
10

The FIFO system of inventory valuation is recommended because:
A)it reflects truer inventory costs.
B)it gives a less accurate cost of goods sold value.
C)it makes net income lower than LIFO, which means less cash paid for taxes.
D)both a and b.





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