Identify and explain the key components of a merchandiser’s net income.
What will be an ideal response?
The basic components of income begin with net sales. Cost of goods sold is subtracted
from net sales to determine gross profit (also called gross margin). Operating expenses are then subtracted from gross margin to determine net income.
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Under management contracting, a domestic firm ________
A) adopts management know-how from a foreign company B) manufactures the products of a foreign company C) exports its products to a foreign company D) provides financial capital to a foreign company E) exports management services to a foreign company
A retailer seeks to expand the store experience to stimulate a customer's senses, as well as to entertain the shopper. This proactive approach to retail image is best described as _____
a. visual merchandising b. enhanced retail imaging c. atmospherics d. experiential merchandising
Jennifer purchased a used refrigerator from her next-door neighbor. When she took it home and plugged it in, the refrigerator burst into flames. The seller in this case is in breach of the implied warranty of merchantability
a. True b. False Indicate whether the statement is true or false
Patrons line up to spin the giant slot machine at the entrance to Ace Rothstein's Tangiers casino
They pour in the door at the rate of 300 per hour and it takes exactly ten seconds every time for the wheels to spin and inform the unlucky patron that they have lost a dollar rather than win a new Corvette. How many customers are in line on average? A) 2.08 customers B) 1.93 customers C) 1.67 customers D) 1.50 customers