Companies That Use Both a Physical Store and the Web

question 11

Multiple Choice

Companies that use both a physical store and the Web to sell their products and services are sometimes referred to as ____.

• A) 3G
• B) bricks and clicks
• C) bricks-and-mortar
• D) pure retail

Apply concepts of cost behavior to real-world situations.

Distinguish between variable costs and fixed costs based on their behavior.

Analyze and categorize costs as variable, fixed, or mixed.

Utilize methods to estimate and analyze variable and fixed components of mixed costs.

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Definitions:

Journal Entries

The records of financial transactions in the double-entry bookkeeping system, each of which must have a debit and a credit.

Purchase and Payment

Purchase and payment refer to the process of acquiring goods or services and subsequently settling the obligation to pay for these goods or services.

Balance Sheet

A financial statement that presents a company's assets, liabilities, and shareholders' equity at a specific point in time, showing the company's financial position.