Section I - Multiple Choice (3 Viewers)

[reddie]

You can't assume that though. The question is positioned in a way which will make you think of that (which is why it was a difficult question) though there is no hard evidence that the business conducted any market research to determine needs and wants.

Yeah but who doesn't want a shirt that never stains or looks crushed? haha

 

[berrss]

Pretty sure 8 was D. Sale and Lease Back increases revenue hence GP, everything else was expenses which only affects NP

is this legit orrrrr

 

[eat_well]

I didn't think I did so badly in multiple choice. I think I got 5 or 6 wrong already judging from what everyone else got.

 

[Rawf]

Pretty sure 8 was D. Sale and Lease Back increases revenue hence GP, everything else was expenses which only affects NP

If you actually think about it... the sale of an expensive capital good will help to increase the business sales (would you add this to sales? if so then...), when you lease it back you have smaller continual increments to be paid, thus it may increase sales and increase GP? O_O.
Actually idk, I picked reduce fixed costs but -___- its such a confusing question.

 

[Demise]

Finally, a person who understands the difference between selling and marketing approach. The key is market research which differentiates the answers. FFS!

Yeah but it's natural to assume that they conducted market research. I was unaware that the test was now based on deciphering moronic questions or actual rational thought. Shame on me for having too much faith in the BOS. It probably is selling since we weren't spoonfed the wording "research and development" even though it clearly was conducted. Damn those students who can actually think as well.

 

[Examine]

Yeah but it's natural to assume that they conducted market research. I was unaware that the test was now based on deciphering moronic questions or actual rational thought. Shame on me for having too much faith in the BOS. It probably is selling since we weren't spoonfed the wording "research and development" even though it clearly was conducted. Damn those students who can actually think as well.

It's true. The MC isn't designed to test our knowledge but try screw us over by deceiving us if we look at it at first glance. (Learnt that the hard way )

 

[Demise]

Lolol yeah, I put selling as well It doesn't state that they took any market research or tried to find out what the consumers want.. and you cant just assume that they did.
Rather, they created a product, and attempted to advertise/promote it... thus it's selling.

Because we considered the question and how specific it is with the features of the product, that's how we assumed.

 

[Demise]

It's true. The MC isn't designed to test our knowledge but try screw us over by deceiving us if we look at it at first glance. (Learnt that the hard way )

These tests have lost all credibility in regards to actual application of thought but instead who can now decipher the question from the boardofstudies point of view. Not to mention also having to consider the tips of teachers howling that questions are trick questions, making us rethink the most basic answers.

 

[eat_well]

It's true. The MC isn't designed to test our knowledge but try screw us over by deceiving us if we look at it at first glance. (Learnt that the hard way )

Definitely. Misreading the question and assuming it's 'easy' screws me over horribly.

 

[sillyboy44]

If you actually think about it... the sale of an expensive capital good will help to increase the business sales (would you add this to sales? if so then...), when you lease it back you have smaller continual increments to be paid, thus it may increase sales and increase GP? O_O.
Actually idk, I picked reduce fixed costs but -___- its such a confusing question.

There wouldn't be any profit in selling a productive asset though, given that you'd be selling it for less than you bought it. A car for example depreciates as soon as you purchase it, so selling it wouldn't increase gross profit.

I got the question wrong too, said fixed costs. Multiple choice is a bitch.

 

[Spoken12]

So the common consensus now is that 6 is indeed "Selling"; what are thoughts on 8? Any chance of "Minimise Expenses" ?

 

[Examine]

So the common consensus now is that 6 is indeed "Selling"; what are thoughts on 8? Any chance of "Minimise Expenses" ?

No it's definitely cost centres

 

[gr_111]

No it's definitely cost centres

Why must it be this? In the textbook, 'cost centres' and 'expense minimisation' are both regarded as equally relevant profitability management strategies, and as someone pointed out earlier, just using cost centres is not enough to actually help your profitability. You must then analyse the expenses to see where the inefficiencies are, and take action to reduce them.

While 'minimising expenses' predominantly helps your net profit, it will also include your gross profit, through minimising the COGS expense. The actual action of 'minimising expenses' will help your profits more than just 'using' cost centres.

I hate to start this argument again, but i just can't see why its cost centres.

 

[louisschirato]

There wouldn't be any profit in selling a productive asset though, given that you'd be selling it for less than you bought it. A car for example depreciates as soon as you purchase it, so selling it wouldn't increase gross profit.

I got the question wrong too, said fixed costs. Multiple choice is a bitch.

Yeah I see the case with that example but what about sale and lease back of property, or with Qantas, they would sell their terminal spaces that surely would have appreciated in value over the years? such an open and stupid question

 

[paddydbarry]

Finally, a person who understands the difference between selling and marketing approach. The key is market research which differentiates the answers. FFS!

Would not the WANTS & NEEDS of the consumer by shirts with no stains or never looks crushed?

 

[Rawf]

Would not the WANTS & NEEDS of the consumer by shirts with no stains or never looks crushed?

You cant assume that. It's a hypothetical market.. for all we know they can all be slobs and not give a crap about stains and creases.
tbh if I saw a shirt like that I probably wont buy it.

 

[gr_111]

Would not the WANTS & NEEDS of the consumer by shirts with no stains or never looks crushed?

yes, most likely, but there is no indication whatever in the question that the company research the needs and wants of the customer before developing the product, hence they are relying on the selling approach to get the customers to buy it.

 

[Demise]

You cant assume that. It's a hypothetical market.. for all we know they can all be slobs and not give a crap about stains and creases.
tbh if I saw a shirt like that I probably wont buy it.

Which is exactly my quarrel, it's common sense to assume they did market research, since it's MOST PROBABLE that they did, and MC is a test of the "most correct" answer. No one, and I mean no one makes a product without R&D of any kind, even a thought process of 'what people like' is R&D in it's own way. Only in a hypothetical market would they not do R&D, which never happens and therefore deems MC as not a test of actual logic and knowledge, but instead a test of who can decipher an answer (as I previously mentioned).

 

[king chopper]

Does anyone have 100% the correct multiple choice answers?????
if so, please post

 

[crazy_paki123]

wow it seems the mc messed with alot of people :L. And yes it wa hard as hell. Short answers and reports were easier though