Bill and Josh are considering opening a retail store. They have identified their target market and location and are finalizing the details of the merchandise they will carry
Since the neighborhood is rundown and the customers in the area are very price-conscious, Bill and Josh want to offer goods from well-known brands, but at lower rates than the full retail prices of the products. They choose to stock excess production from manufacturers or goods that have remained unsold at other retailers. This is a description of a(n) ________ retailer.
A) off-price
B) specialty
C) discount
D) department
E) catalog
A
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Explain how the demand curve works, and how it benefits a firm.
What will be an ideal response?
Sale and purchase of goods should be recorded at their list price, less any trade discount involved
Indicate whether the statement is true or false
A marketing representative who is tempted to engage in price-fixing due to heavy competition and similar prices for competitors' products should:
a. emphasize factors of her product that do not involve price. b. emphasize service, reliability, and other factors of her company. c. understand the serious criminal and civil penalties of engaging in price-fixing. d. All the above.
Which of the following statements is true of expenses?
A) Expenses increase equity, so an expense account's normal balance is a credit balance. B) Expenses decrease equity, so an expense account's normal balance is a credit balance. C) Expenses increase equity, so an expense account's normal balance is a debit balance. D) Expenses decrease equity, so an expense account's normal balance is a debit balance.