Define independent retailer, chain store, and franchise and give an example of each.
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Retailers owned by a single person or partnership and not operated as part of a larger retail institution are independent retailers. Local florist, shoe stores, and ethnic food markets typically fit this classification. Chain stores are owned and operated as a group by a single organization. Gap and Starbucks are examples of chain stores. Franchises are owned and operated by individuals but are licensed by a larger supporting organization, such as Subway or Quiznos.
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A manager attempts to resolve a conflict by seeking an advantageous solution for all the parties involved. This conflict management technique is called accommodating.
Answer the following statement true (T) or false (F)
Apple iPhoneApple Inc. iPhone went on sale on June 29, 2007. Apple's loyal and enthusiastic customer base is known for rushing to purchase its new products and the iPhone enjoyed a tremendous amount of "buzz" before its introduction. As expected, the iPhone entered the market at what many believed to be a high price ($599). However, within weeks the price was reduced to $399. By the end of 2007 over 8 million iPhones had sold in the U.S. marketplace. By most, if not all measures, the original iPhone was a huge success for Apple and it exclusive U.S. carrier AT&T.On July 11th, 2008, Apple Inc. released the iPhone 3G, which it advertised as twice as fast as the original iPhone for half the cost. However, in order to obtain an iPhone at the new price of $199, buyers had to agree to a
two-year service contract with AT&T. This allows iPhone users to receive phone calls and email, and search the web on the same device. A single charge of $59.99 from AT&T included 450 minutes of cellular calls, with free nights and weekend minutes, unlimited data, visual voicemail, 200 text messages, rollover minutes, and unlimited mobile-to-mobile service within the AT&T network. This approach succeeded and over a million iPhone 3Gs were sold during the introductory weekend.Refer to Apple iPhone. Best Buy also carries the iPhone. If Best Buy, AT&T, and Apple meet to agree on a price for the iPhone, it could be said that _____ has occurred. A. price fixing B. retail price maintenance C. price discrimination D. penetration pricing E. price skimming
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2Year 1Current assets: Cash$160 $100 Accounts receivable, net 190 190 Inventory 140 130 Prepaid expenses 90 90 Total current assets$ 580 $ 510 Current liabilities: Accounts payable$200 $180 Accrued liabilities 30 30 Notes payable, short term 90 80 Total current liabilities$ 320 $ 290 Sales on account during the year totaled $1,200 thousand. Cost of goods sold was $800 thousand.Required:Compute the following for Year 2:a. Working capital.b. Current ratio.c. Acid-test (quick) ratio.d. Accounts receivable turnover.e. Average collection period.f. Inventory turnover.g. Average sale period.
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In Stewart v. Federated Department Stores, a woman's estate successfully sued Bloomingdale's for failing to adequately guard one of the store's parking lots, where she was murdered
a. True b. False Indicate whether the statement is true or false