Which of the Following Is Not an Element in the Retail

question 20

Multiple Choice

Which of the following is not an element in the retail mix?

• A) Competitive response
• B) Merchandise pricing
• C) Location
• D) Customer service
• E) Advertising and promotion

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Definitions:

Debit

A financial record that elevates an asset or expense account, or lessens a liability or equity account.

Double-entry Accounting

An accounting method where every financial transaction results in equal and opposite effects in at least two different accounts.

Ledger

A book or collection of financial accounts where all transaction records are summarized and recorded.

Journal

A book or digital record where all financial transactions are initially recorded in chronological order before being posted to accounts in the ledger.