When It Comes to Promoting a Small Business That Is

question 86

Multiple Choice

When it comes to promoting a small business that is just starting out,spreading the news by _____ is the fastest way to build a client base.

• A)word-of-mouth
• B)full-scale advertising
• C)personal selling
• D)point-of-sale

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Definitions:

Periodic System

An inventory accounting system where updates to inventory levels and cost of goods sold are made at the end of an accounting period.

Purchase Discounts

Reductions in the price of goods purchased, usually as a reward for early payment to the supplier.

Freight-In

The cost associated with getting inventory to a business, usually included in the cost of goods sold.

GAAP

The collection of standard accounting practices widely recognized for financial reporting is called Generally Accepted Accounting Principles.