Which of the Following Statements Is True Regarding a Private

question 42

Multiple Choice

Which of the following statements is true regarding a private label brand?

• A)It is sometimes called as an exclusive brand.
• B)It is usually the low-priced option in the category.
• C)Stores often make lower margins on private-label brands.
• D)Retail stores devote huge marketing funds to support private labels.

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Definitions:

Cash Payment

A financial transaction involving the outflow of cash from one party to another as a form of payment.

Internal Control

Methods and protocols established by an organization to guarantee the reliability of financial and accounting data, foster responsibility, and avert deceit.

Record-Keeping Function

The process of maintaining a record of business transactions and financial activities for future reference.

Account System

Refers to a structured process of recording, analyzing, and managing financial transactions of a business or individual.