1. The actual economic value of any business enterprise can be measured in terms of:
   1. the discounted net present value of the future stream of cash flow
   2. the future value of the net present cash flow
   3. the discounted net present value of average past earnings
   4. the future value of past net cash flow

2. Creating maximum customer value requires:
   1. prioritizing long-term value over short-term value
   2. prioritizing short-term value over long-term value
   3. balancing short-term value with long-term value
   4. focusing on long-term value to the exclusion of short-term value

3. Customers create long-term value because they have __________ .
   1. money
   2. memories
   3. needs
   4. values

4. Value creators are companies whose:
   1. customer value rate is below their cost of capital
   2. customer value rate is above their cost of capital
   3. customer value rate is equal to their cost of capital
   4. customer value rate is below zero

5. Legacy metrics include all of the following EXCEPT:
   1. cost of goods sold
   2. number of new customers acquired
   3. earnings before interest, taxes, depreciation, and amortization

customers LTV-based metric