Which Type of Store Carries a Wide Variety of Items

question 97

Multiple Choice

Which type of store carries a wide variety of items and offers a deep selection,but has been squeezed in recent years between more focused and more service- oriented specialty stores on the one hand and more efficient,lower- priced discounters on the other?

• A)department
• B)factory outlet
• C)hypermarket
• D)wholesaler
• E)off- price

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Definitions:

Percentage of Receivables Basis

An accounting method to estimate the allowance for doubtful accounts based on the expected uncollectibility of accounts receivable.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total receivables reported on the balance sheet to reflect the amount expected to be uncollectible.

Percentage of Sales Method

A method used for financial forecasting that predicts future occurrences, such as expenses or inventory needs, based on a fixed percentage of sales.

Bad Debt Expense

The cost associated with accounts receivable that a company is unable to collect, considered as a loss.