RHKurt & Son,Inc

question 121

Multiple Choice

R.H.Kurt & Son,Inc. ,distributes rifles for hunting and target shooting,rifle barrels,triggers,cleaning equipment,and reloading equipment to sporting equipment retailers and many large discount stores.It carries products from 41 different manufacturers.The manufacturers whose products it carries are known for producing superior products and are leaders in their industries.In addition,Kurt is able to repair damaged rifles through its gunsmith service,which is available to all of its retailers.
-Refer to R.H.Kurt.When Kurt combines products from 41 different manufacturers into a collection retail buyers want available at one place,what is it engaging in?

• A)creating an assortment
• B)a facilitating function
• C)integrating its promotional functions
• D)a compressed assortment

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Definitions:

Revenue Recognition

The process by which companies document and account for their income, specifically defining when and under what circumstances revenue is considered earned.

Manage Earnings

This involves legal and possibly unethical financial reporting strategies to make a company's financial condition appear more favorable than it actually is.

Generally Accepted Accounting Principles

A framework of accounting standards, principles, and procedures that companies must follow when compiling their financial statements in the U.S.

Stringent Rules

Strict and precise regulations or guidelines that must be followed, often used in contexts such as legal, financial, and quality control processes.