If Pepsi Goes on Sale and Decreases Its Price by 10

question 101

Multiple Choice

If Pepsi goes on sale and decreases its price by 10 per cent and, as a result, the quantity demanded of Coca Cola decreases by 5 per cent, then Pepsi and Coke are ________ goods.

• A) normal
• B) substitute
• C) inferior
• D) unrelated
• E) complementary

Identify factors influencing a business's control environment.

Understand the concept, establishment, and use of a petty cash fund.

Understand the concept and utility of Electronic Funds Transfer (EFT) in business transactions.

Grasp the purpose, process, and benefits of bank reconciliation for businesses.

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Definitions:

Total Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Fashion Retailer

A business that sells clothes, accessories, and sometimes footwear, typically specializing in current fashion trends and styles.

Outlets

Points from which goods are sold or distributed; also refers to ways in which energy or emotions can be expressed.

Procedure Manual

A document that outlines the steps or actions necessary to carry out particular tasks in a consistent and reliable manner, often used in organizations for training and reference.