A Type of Retail Outlet That Focuses on One Type

question 121

Multiple Choice

A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is referred to as a _________.

• A)specialty outlet
• B)hypermarket
• C)category killer
• D)regional dominator
• E)general merchandise store

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Definitions:

Ledger Accounts

Records that summarize the transactions related to a particular item over a period, creating a record of each financial transaction that takes place.

Transferred

The act of moving assets, funds, or rights from one account, location, or ownership to another.

Journals

Recorded chronological entries that detail all the financial transactions of a business, used as the initial place of record.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.