Marks and Spencer Buys Apparel from International Wholesalers for Sale

question 96

Multiple Choice

Marks and Spencer buys apparel from international wholesalers for sale to consumers in its stores in the United Kingdom. Marks and Spencer is a(n) ________.

• A) manufacturer
• B) wholesaler
• C) retailer
• D) intermediary

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Definitions:

Maturity Value

The amount that will be paid to the holder of a financial instrument at the instrument's maturity date, including principal and any accrued interest.

Due Date

The date by which a payment, task, or obligation must be completed or fulfilled.

Journalize

The process of recording transactions in a journal or diary, which includes specifying the accounts affected and the amounts, usually as a first step in the accounting cycle.

Due Date

The specified date by which a payment must be made or a task must be completed.