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What does the acronym DME stand for in marketing?
direct marketing expense
What is integrated marketing communications used for?
The primary objective of integrated marketing communications is to turn marketing from an expense into a source of revenue. The actual definition of the term varies depending on the source cited.
Define the statement A marketing information system is an investment not a cost?
mis is investment not a cost
The element of the marketing mix which does not represent a cost?
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What is 4cs in marketing rule?
Consumer, Competition, Communication, Cost.
Cost of marketing and delivering a product are included in inventory valuation?
Typically no. These costs are usually considered current period expenses and not added to inventory. However, there are certain situations where marketing costs might be deferred over a period of time, creating a prepaid expense.
What is the difference between cost and expense?
The difference between a cost and an expense lies on the matter of distinguishing and separately recognizing the used, utilized and expired portion of the cost, being that part is what we called an expense. An expense can also be described as a cost forgone since it is already been utilized and used. The expense is also recognized only in the income statement rather than in the balance sheet since utilization is recognized for a certain period of time. On the other hand, an unused or an unexpired cost is reported in the balance sheet as at a certain point of time. A costmight be an expense or it might be an asset. An expense is a cost that has expired or was necessary in order to earn revenues.
Is depreciation expense under administrative expense?
Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
Is sales commission expense a period cost?
Yes, period costs are non manufacturing costs
Is payment of current period's rent an expense?
Yes, the payment of the current period's rent is considered an expense. It represents a cost incurred for using a property or space during that period, impacting the income statement by reducing net income. This expense is typically recorded in the accounting period in which the rent is paid or incurred.
Why is opening inventory an expense?
Opening inventory itself is not an expense; rather, it represents the value of goods available for sale at the beginning of an accounting period. However, as these goods are sold, their cost is recognized as an expense called "cost of goods sold" (COGS) on the income statement. This expense reflects the cost associated with the inventory that has been sold during the period, impacting the overall profitability of the business. Thus, while opening inventory is an asset initially, it becomes an expense when the inventory is sold.
What does the acronym DME stand for in marketing?
direct marketing expense
Is depreciation expense is nominal account?
Yes depreciation is a nominal account and used to allocated the portion of fixed cost to income statement as an expense for that specific period.
The cost of fixed assets recognized as being consumed during a fiscal period is recorded as?
depreciation expense
Is professional charges a fixed cost expense?
The only time professional charges would be a fixed cost expense is when you pay exactly the same charge every reporting period (monthly, quarterly, or yearly). If the professional charge changes depending of the amount of work done or time spent, then it is not fixed. Sometimes lawyers or accountants will work for a fixed fee that doesn't change over a period of time. Then it is a fixed cost expense.
When is prior service cost recognized as a pension expense?
Prior service cost should not be recognized as pension expense entirely in the year of initiation, but should be recognized during the service periods of those employees who are expected to receive benefits under the plan. Consequently, unrecognized prior service cost is amortized over the service life of the employees who will receive benefits and is a component of net period pension expense each period.
What are 2 examples of KCI?
Two examples of KCI (Key Commercial Indicators) are sales growth and customer acquisition cost. Sales growth measures the increase in revenue over a specific period, reflecting the effectiveness of marketing and sales strategies. Customer acquisition cost, on the other hand, calculates the total expense incurred to acquire a new customer, helping businesses assess the efficiency of their marketing efforts.
