Establishing the need for marketing research: a. arises when managers must make decisions and they have inadequate information b. is determined by a quantitative analysis of the appropriateness of marketing research should be undertaken for every decision made in the firm c. stems from the need to establish a monitoring system that alerts mid management to either opportunities in the marketplace or problems d. should not come from a monitoring system but rather from management intuition e. should be determined only after the problem is clearly defined

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.