Stop-N-Go , 7-Eleven, and Circle K Are Examples of ________

question 96

Multiple Choice

Stop-N-Go , 7-Eleven, and Circle K are examples of ________.

• A) department stores
• B) convenience stores
• C) category killers
• D) specialty stores
• E) supermarkets

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Definitions:

Current Asset

An asset on the balance sheet that is expected to be sold or otherwise used up in the near term, typically within one year, including cash, inventory, and receivables.

Current Liability

Financial obligations a company must settle within one year, including accounts payable, taxes, and short-term loans.

Aggregate Accounts Receivable

The total amount of money owed to a company by its customers for goods or services delivered but not yet paid for.

Credit Period

The length of time for which credit is extended. If the credit period is lengthened, then sales will generally increase, as will accounts receivable. This will increase the firm’s financing needs and possibly increase bad debt losses. A shortening of the credit period will have the opposite effect.