Compare and contrast the four types of discount stores
What will be an ideal response?
General merchandise discount stores offer a broad assortment of items at low prices with minimal services. Off-price retailers have a narrower assortment, selling surplus merchandise from well-known manufacturers at low prices. Like general discount merchandise stores, warehouse clubs sell a broad assortment of food and nonfood items in bulk size. However, warehouse clubs are almost entirely self-service and often charge a modest membership fee. Unlike the other types of discount stores, factory outlet stores are owned by manufacturers that use the stores to sell defective merchandise or excess inventory at a low price.
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An example of an item that should be reported as a prior period adjustment is the
a. collection of previously written off accounts receivable. b. payment of taxes resulting from examination of prior years' income tax returns. c. correction of an error in financial statements of a prior year. d. receipt of insurance proceeds for damage to a building sustained in a prior year.
Which is the correct spelling?
A) followups B) follow ups C) follow-ups
An administrative exercise that is typically done once a year to identify and discuss job-relevant strengths and weaknesses of individuals or work teams is:
A. performance standard. B. performance encouragement. C. performance facilitation. D. performance appraisal.
Larry's Fish Market buys salmon (S) for $5 per pound and a local whitefish (W) for $3.50 per pound. Larry wants to minimize his cost, but he cannot spend more than $160. The objective function that minimizes these costs for Larry is:
A) 5S + 3.5W ? 160. B) Min 5S + 3.5 W. C) Max 5S + 3.5 W. D) Min 5S + 3.5W ? 160.