Which of the Following Statements Is True About a Retail

question 80

Multiple Choice

Which of the following statements is true about a retail business?

• A) The operating cycle for a service business differs from the operating cycle for a retail business in that a service business must purchase merchandise for sale to customers.
• B) The revenue activities of a retail business involve the buying and selling of merchandise.
• C) The operating cycles of retail businesses and service businesses are exactly the same.
• D) The revenue activities of a retail business involve rendering services to customers.

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Definitions:

Stakeholder Model

A framework used in business that identifies and addresses the interests and concerns of individuals and groups affected by the organization's actions.

Social Responsibility

The obligation of individuals and organizations to act in ways that benefit society at large, beyond their own interests or profits.

Obstructionist Strategy

A corporate social responsibility strategy that tries to avoid and resist pressures for social responsibility.

Economic Responsibility

The obligation of an organization to make decisions and take actions that will contribute to the economic well-being of society.