Recordkeeping, or bookkeeping, is the recording of transactions and events, either manually or electronically. This is just one part of accounting.
Answer the following statement true (T) or false (F)
True
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La Rouge, a fabric store, is one of the most famous in the country. Customers flock to the store from all across the nation for its exclusive collection of store brands. Which of the following is most likely to be the sustainable competitive advantage of La Rouge?
A. Customer service B. Price C. Ethical business practices D. Location E. Unique merchandise
A shoe department carries more than 55 different styles of white sandals. This is a description of the shoe department's ________
A) merchandise breadth B) retail diversity C) merchandise depth D) point-of-sale range E) service assortment
Sears, Target, and Kroger are examples of ________
A) voluntary chains B) retailer cooperatives C) corporate chains D) franchise organizations E) warehouse clubs
Which of the following is true about the revenue journal?
A) cash revenues and revenues on account are recorded in the revenue journal B) only cash revenues are recorded in the revenue journal C) only revenues on account are recorded in the revenue journal D) unearned revenues are also recorded in the revenue journal