Consumers Often Use the Prices of ________ Items,such as a Can

question 267

Multiple Choice

Consumers often use the prices of ________ items,such as a can of Coke,to form an overall impression of the store's prices.

• A)benchmark
• B)stoplight
• C)point-of-purchase
• D)value-based
• E)loss-leader

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Definitions:

Net Realizable Value

The expected selling price in the ordinary course of business minus the estimated costs of completion and the costs necessary to make the sale.

Normal Selling Price

The standard amount charged to customers for a good or service under normal market conditions.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases or sales have occurred.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.