Wal-Mart Wal-Mart, the World's Largest Retailer by Revenue, Announced That It

question 155

Multiple Choice

Wal-Mart
Wal-Mart, the world's largest retailer by revenue, announced that it will get back to its founder's roots by initiating more price cuts. Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins. CEO Mike Duke assuaged critics by saying Wal-Mart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold.
-Refer to Wal-Mart. Most Wal-Mart stores are not located in shopping centers but rather are buildings all by themselves. This type of location is referred to as a:

• A) primary outlet
• B) freestanding store
• C) pop-up store
• D) single-unit retailer
• E) strip store

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Definitions:

Expense Accounts

Accounts used in accounting to record all expenses transactions made by a business.

Abbreviations

Shortened forms of words or phrases used for convenience.

Debit

An entry on the left side of an account record, used to increase an asset or expense or decrease a liability, equity, or revenue.

Credit

An accounting entry that increases the balance of liabilities and equity accounts, and decreases the balance of an asset or expense account.