An Independent Hardware Retail Store 100 Miles from the Nearest

question 123

Multiple Choice

An independent hardware retail store 100 miles from the nearest city of more than 5,000 people provides needed supplies for area ranchers. The store would most likely buy its plumbing and electrical supplies through a ________.

• A) truck jobber
• B) commission merchant
• C) mail-order wholesaler
• D) rack jobber
• E) merchandise broker

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Definitions:

Service Enterprises

Businesses that provide intangible products or services to customers rather than tangible goods.

Unadjusted Balance

The initial balance of an account before any adjustments or corrections are made for accounting purposes.

Inventory

includes goods and materials a business holds for the purpose of resale or as part of its production process.

Year-End

The end of a financial year, a period used for accounting purposes and preparing financial statements.