Briefly discuss what gross profit represents and how it affects the net earnings of a merchandiser
What will be an ideal response
Gross profit is the difference between net sales revenue and cost of goods sold. It represents the markup on the merchandise inventory and is a measure of a merchandiser's success. A sufficiently high gross profit is vital to a merchandiser. The gross profit must cover the company's operating expenses for the company to survive.
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Which of the following statements is TRUE of the role of advertising in business markets?
A) Advertising is unsuitable for explaining a product's features. B) Business marketers tend to spend comparatively more on advertising. C) Business buyers consider advertising inappropriate for reaching them. D) Advertisements can legitimize the company and introduce its products. E) Salespeople generate leads through personal selling and use advertising for follow-up.
Copyrights may be granted for each of the following except:
a. music b. literature c. painting d. expressions of ideas e. the idea itself
Ulrich, a citizen of Virginia, wants to enforce in the state of Washington certain rights that he has under a contract with Xtreme SnoBoards Inc. A Washington state court is most likely to enforce such rights under
A. no provision in the U.S. Constitution. B. the commerce clause. C. the full faith and credit clause. D. the privileges and immunities clause.
Vince offers to buy a book owned by Sun-Hi for twice what Sun-Hi paid for it. She accepts and hands the book to Vince. Sun-Hi's delivery of the book is
A. not consideration because its transfer is a preexisting duty. B. not consideration because its exchange is not a bargain. C. consideration. D. not consideration because its value is legally insufficient.