Stephanie Johns Is a Member in a Store That Is

question 76

Multiple Choice

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.The savings on these bulk purchases are passed on to the members in the form of lower food prices.Stephanie is most likely shopping in which type of store?

• A)Department store
• B)Specialty store
• C)Discount store
• D)Convenience store
• E)Cooperative

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Definitions:

Service Business

A type of business that provides intangible products or services to consumers, as opposed to selling physical goods.

Overhead

General, ongoing business expenses not directly attributed to creating a product or service, including rent, utilities, and insurance.

Direct Labor

Labor costs that are directly attributed to the production of goods, including wages for workers who manufacture a product or perform a service.

Gross Profit

The difference between sales and the cost of goods sold, representing the profit from trading activities before deduction of overheads and other selling expenses.