For a Small Business,the Amount and Type of Inventory Held

question 34

True/False

For a small business,the amount and type of inventory held for resale is not important because the supply of inventory and demand of customers can be matched at all times.

---

Definitions:

Implied-in-Fact Contract

An agreement derived from the actions or circumstances of the parties involved, rather than written or spoken words.

Real Estate Broker's Licensing Statute

A legal regulation requiring individuals or companies engaging in the brokerage of real estate transactions to obtain a license.

Commission Agreed Upon

The agreed percentage or rate of compensation for services rendered, especially in brokerage or sales transactions.

Regulatory

Relates to the imposition of rules, laws, and guidelines developed by governmental or regulatory bodies to control activities within specific sectors.