A ________ Is a Retail Firm Owned by Its Customers

question 22

Multiple Choice

A ________ is a retail firm owned by its customers. Members contribute money to open their own store, vote on its policies, elect a group to manage it, and receive dividends.

• A) retailer cooperative
• B) voluntary chain
• C) consumer cooperative
• D) merchandising conglomerate
• E) franchise organization

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Definitions:

Trade Discounts

Discounts from the list prices in published catalogs or special discounts offered to certain classes of buyers.

Operating Expenses

Costs associated with a company's main operational activities, excluding the cost of goods sold.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue, indicating the financial performance over a specific period.

Service Businesses

Businesses that primarily offer intangible products or services to consumers or other businesses.