Markdowns

question 103

Multiple Choice

Markdowns:

• A) do not affect the profits of a business.
• B) are not shown on an operating statement.
• C) are similar to allowances--and are subtracted from gross sales on an operating statement.
• D) are generally caused by "consumer errors."
• E) All of the above.

---

Definitions:

Future Course

A direction or plan of action intended to be followed in upcoming times, often laid out to achieve specific goals or outcomes.

Management Function

The primary roles and activities undertaken by managers to ensure the efficient and effective running of an organization.

Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

U.S. Small Business Administration

A federal agency that provides support to entrepreneurs and small businesses in the United States through loans, loan guarantees, counseling, and other forms of assistance.