Each Different Item of Merchandise in a Retail Store Is

question 34

Multiple Choice

Each different item of merchandise in a retail store is called a(n) _____________.

• A)consumer offering
• B)store counted item (SCI)
• C)stored and keyed unit (SKU)
• D)stock keeping unit (SKU)
• E)economic unit

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Definitions:

Federal Statutes

Laws passed by the national government of a country that are applicable throughout the country.

Accounting Equation

The basic formula expressing that a company's total assets are equal to the sum of its liabilities plus equity capital.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the owners' claim on the business.

Assets

Assets are economic resources controlled or owned by a business, intended to provide future benefits, such as cash, inventory, property, and equipment.