Location is important to a retailer because
A. suppliers charge more to service stores in certain trading areas.
B. a desirable location appeals to consumers' emotions.
C. location is the major determinant of store image.
D. location determines the trading area from which the store must draw its customers.
E. convenient location is an essential customer service element.
Answer: D
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Purchase discounts, freight in and receiving costs ________.
A) are considered selling costs B) should not be considered when setting a cost standard for materials C) are used when setting a cost standard for materials D) are determined by a company's accountants and human resource managers
Information systems should be subject to the same financial analyses other assets are subjected.
Answer the following statement true (T) or false (F)
The mouse executive board meeting was drawing to a conclusion; the only way they would be able to detect the presence of the cat was to tie a bell around its tail. Under their risk management identification scheme, this would fall under:
A) Commercial risk. B) Execution risk. C) Financial risk. D) Technical risk.
Michael Soles-owner of Soles Shoe Store-recently discovered that shoe stores in his trading area have an average markup of 40 percent. Upon investigation, Michael found that his average markup is $15 on shoes that he sells for $45. This suggests that
A. Michael's markups in dollar amounts are about the same as his competitors'. B. Michael has higher-than-average costs. C. Michael is pricing his products higher than his competitors. D. Michael has a relatively high stockturn rate. E. Michael is taking a smaller average markup than his competitors.