As the Old Cliché Claims, the Three Most Important Things

question 141

Multiple Choice

As the old cliché claims, the three most important things in retailing are

• A) size, location, and convenience.
• B) price, promotion, and place.
• C) location, location, and location.
• D) price, price, price.
• E) before, during, and after the sale.

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Definitions:

Accounts Payable

Short-term liabilities of a company, representing amounts owed to suppliers or creditors for goods and services received but not yet paid for.

Office Supplies

Consumable items used in offices on a regular basis, such as paper, pens, and toner cartridges.

Cash Dividends

Dividends paid out in cash by a company from its earnings to its shareholders at declared dividend dates.

Utility Bill

A statement of charges for the consumption of utilities such as electricity, gas, water, or sewage.