Which of the Following Functions Is NOT Likely to Be

question 46

Multiple Choice

Which of the following functions is NOT likely to be performed by a wholesaler?

• A)gathering market information
• B)buying and assortment building
• C)bulk breaking
• D)risk bearing
• E)selling goods or services to final consumers

Compute budgeted cash disbursements for manufacturing overhead based on direct labor-hours and overhead rates.

Understand and apply the concept of budgeting in merchandising and manufacturing firms.

Calculate budgeted sales, cash collections, and cash disbursements.

Prepare comprehensive master budgets, including sales, production, and cash budgets.

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Definitions:

Coverage Limitations

are restrictions or caps in an insurance policy indicating the maximum amount the insurer will pay for covered losses or damages.

Insurance Contract

A legally binding agreement between an insurer and the insured, detailing the terms, coverage, premiums, and obligations of both parties.

Insurable Interest

A requirement stating that a person who purchases an insurance policy must have a vested interest in the subject of the insurance.

Life Insurance

A policy that pays a specified sum to beneficiaries upon the insured person's death.