Which Statement Is Accurate About Retailing as an Economic Activity

question 135

Multiple Choice

Which statement is accurate about retailing as an economic activity?

• A)Retailing is an important activity that affects nearly everyone, either directly or indirectly.
• B)Historically, retailing accounted for a large part of the United States economy, but recent figures indicate that retailing's impact has waned.
• C)Retailing's biggest impact can be seen in the amount of spending on clothing and food service items.
• D)Retailing's effect on the economy has lessened due to the increase in online shopping.
• E)The vast majority of retailers are very large organizations rather than small (one store)owners.

---

Definitions:

FOB Shipping Point

A term used in shipping contracts to indicate that the buyer is responsible for the goods and the shipping cost from the moment the goods leave the seller's premises.

Perpetual Inventory System

This method for accounting inventory immediately notes down any purchase or sale through the use of computerized point-of-sale systems and enterprise asset management software.

FOB Shipping Point

A term indicating that the buyer assumes ownership and responsibility for goods at the seller's location, and pays for shipping costs.

FOB Destination

A shipping term indicating that the seller bears the cost and risk of transporting goods until they are delivered to the buyer's location.