Which of the Following Is True About Freestanding Retailers

question 92

Multiple Choice

Which of the following is true about freestanding retailers?

• A)They are located by themselves in a separate building.
• B)They benefit from the close proximity of stores selling similar merchandise.
• C)They are typically small entrepreneurial operations.
• D)They anchor large shopping centers.
• E)They rely on spillover from other stores to attract customer traffic.

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Definitions:

Net Method

An accounting practice where purchase discounts are recorded immediately by reducing the price of the goods bought, assuming the discount will be taken.

Journal Entries

The records of financial transactions in the accounting system, documented in chronological order.

Voucher

A document that serves as evidence for a transaction and authorizes the payment or receipt of money.

Normal Balance

The side of an account (debit or credit) that is expected to have a higher balance based on the accounting rules.