Which of the Following Does NOT Hold True of Consignment

question 64

Multiple Choice

Which of the following does NOT hold true of consignment shops?

• A)It promotes the popular way which is to give your product to someone else to sell.
• B)They are retail stores in which customers can come and buy products placed in the shops by a wide variety of sellers.
• C)The shop's owner handles the sale and gets a portion of the money from the sale in return.
• D)Many consignment shops have a maximum selling price for items.

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Definitions:

Extended Warranty

An extended warranty is an additional warranty covering the repair and maintenance of items beyond the standard warranty period, usually at an extra cost.

FICA Payroll Tax

Federal taxes in the United States that fund Social Security and Medicare, required to be withheld from employees' paychecks and also matched by employers.

Social Security

A government program that provides monetary assistance to people with inadequate or no income, primarily focused on retirees, disabled individuals, and survivors of deceased workers.

Medicare

In the United States, Medicare is a government-run health insurance scheme designed for individuals who are 65 years of age or older, along with certain younger individuals who have disabilities.