Regarding Supermarkets, Which of the Following Is NOT True

question 112

Multiple Choice

Regarding supermarkets, which of the following is NOT true?

• A) They introduced self-service to reduce their costs.
• B) After-tax profits are very good-averaging 10 to 15 percent of sales.
• C) The newer ones carry 47,000 product items.
• D) They average about $17 million a year in sales.
• E) They got their start as an experiment during the Depression.

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Definitions:

Accounting Profits

The net income of a company as calculated by subtracting total expenses from total revenues, in accordance with accounting principles.

Negative

A term used to describe values or balances that are less than zero, often used in financial contexts.

Accounting Profit

The difference between total revenue and total expenses when both are measured in accordance with generally accepted accounting principles.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.