Retail Management - Chapter 12 Sample Test Questions

Published: 2021-09-10 19:25:08
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Chapter 12
Which is not a typical time frame for a profit-and-loss statement?
Correct Answer: Weekly

Which is not a major component of a profit-and-loss statement?
Your Answer: Depreciation

Property, buildings, fixtures, and equipment are examples of
Your Answer: fixed assets.

Payroll expenses payable and accounts payable are examples of
Your Answer: current liabilities.

Assets minus liabilities equals a retailer's
Correct Answer: net worth.

The value of a retail business, after deducting all financial obligations, is known as
Your Answer: net worth.

Which of the following will increase asset turnover?
Correct Answer: Outsourcing delivery operations

The three components of return on assets are
Correct Answer: net sales, net profit after tax, and total assets.

Total assets divided by net worth equals
Correct Answer: financial leverage.

A firm with a financial leverage equal to one has
Your Answer: no debt.

The strategic profit model results in a performance measure known as
Your Answer: return on net worth.

The key business ratio found by computing cash plus accounts receivable, and then dividing by total current liabilities is the
Correct Answer: quick ratio.

The key business ratio found by calculating net sales minus cost of goods sold, and then dividing by net sales is the
Correct Answer: overall gross profit.

Planned expenditures for a given time period based on expected performance are outlined in a
Correct Answer: budget.

After determining who is responsible for budgeting decisions, the next step in the preliminary budgeting process is to determine
Correct Answer: the budgeting time frame.

With zero-based budgeting, a retailer
Correct Answer: starts each new budget from scratch.

When planning and implementing a budget, a retailer must carefully consider
Correct Answer: cash flow.

Capital expenditures are
Correct Answer: the long-term investments in fixed assets.

Which measure is not used to describe a retailer's productivity?

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