Grid Ratios Range From

question 22

Multiple Choice

Grid ratios range from:

• A) 2:1 to 6:1.
• B) 4:1 to 16:1.
• C) 10:1 to 24:1.
• D) 20:1 to 32:1.

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Definitions:

Merchandise Inventory

Refers to the products a company has in stock that are available for sale to customers.

Accounts Payable

Liabilities of a company representing amounts owed to creditors for goods and services that were purchased on credit.

Store Equipment

Fixed assets or long-term assets purchased for the operation of a store, such as shelves, register systems, and furniture, which are used in the business over several years.

F.O.B. Shipping Point

A shipping term indicating that the buyer takes ownership and responsibility for goods once they are shipped, and is responsible for shipping costs.