To Expand the Number of Its Retail Outlets in the Washington,D.C.,area,the

question 106

Multiple Choice

To expand the number of its retail outlets in the Washington,D.C.,area,the Dress Barn bought out a small chain of women's apparel stores in northern Virginia.This type of integration is called

• A) vertical.
• B) retail.
• C) horizontal.
• D) backward.
• E) forward.

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Definitions:

Profit and Loss

A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period.

Statement of Cash Flows

A financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents.

Trial Balance

A financial report that lists all the balances in each ledger account at a point in time, used to ensure debits equal credits.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.