Service and Retail Businesses Have Three Basic Choices for Types

question 99

Multiple Choice

Service and retail businesses have three basic choices for types of locations; central business districts,shopping centers,and ____.

• A) Main street areas
• B) Manufacturing areas
• C) Suburban areas
• D) Stand-alone locations

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Definitions:

Voucher Prepared

involves the creation of a document that authorizes a financial transaction and substantiates the details of that transaction.

Periodic System

An inventory system where updates to inventory levels are made periodically, as opposed to continuously.

Voucher Systems

A control and documentation system used in accounting to process and monitor transactions.

Net Method

An accounting method where discounts for early payment are assumed to be taken and sales or purchases are recorded at their net of discount values.