Utilize critical thinking skills, together with ethical values, to evaluate accounting and financial information and formulate business decisions.
|Program Learning Outcome (PLO)|
|PLO: Utilize critical thinking skills, together with ethical values, to evaluate accounting|
|and financial information and formulate business decisions.|
|Jones Company is a producer of high quality, branded products. Its brand is a household name|
|synonymous with quality for over 25 years. Recently, a discount store began to compete in the|
|territory by offering low quality products at cheaper prices. While Jones believes its customers|
|value quality, Jones was reluctant to let the discounter gain a presence in the marketplace.|
|Jones reacted by significantly reducing the prices of its products to match those of its new|
|competitor and cut certain costs to minimize the effects on its profit. The results of this|
|strategy can be seen in the financial statements of Jones Company below.|
|Product Development (1)||13,925||16%||10,500||12%||5,410||6%|
|(1) Research, new|
Based on the limited financial and other information above, please answer the followingquestions:
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