Test 8 - Question 1 1 1 point is the planning and control...

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Question 1 1 / 1 point _____ is the planning and control of the buying and selling of goods and services, to help the retailer realize its objectives. Question options: A) Retaili ng B) Retail reduction analysis C) Merchan dising D) Forecas ting E) Store manageme nt Question 2 1 / 1 point A merchandise budget is a plan of: Question options: A) projected sales for an upcoming seaso when and how much merchandise is purchased, and what segments of the market to target. B) projected sales for an upcoming seaso when and how much merchandise is purchased, and what markups and reductions will likely occur. C) projected sales for an upcoming seaso when and how much merchandise is purchased (excluding potential marku and reductions). D) projected sales for an upcoming year, when and how much merchandise is purchased, and what reductions will l occur.
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E) projected reductions for the upcoming season. Question 3 1 / 1 point _____ is (are) the difference between net sales and cost of goods sold. Question options: A) Gross sales B) Gross margin C) Operating profit D) Net profit E) Operatin g sales Question 4 0 / 1 point Which of the following is NOT a major merchandising decision that must be made during the development of the merchandise budget? Question options: A) What additional purchases must be made during the season? B) What will be the anticipated sales for the department, division, or store? C) What markups from the original retai price must be made in order to dispos all of the merchandise brought into th store? D) What gross margin should the departm division, or store contribute to the ov profitability of the company? E) How much stock on hand is needed to
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achieve this sales plan, given the leve inventory turnover expected? Question 5 0 / 1 point All of the following are requirements for a merchandise budget EXCEPT: Question options: A) the budget should be prepared in advance of the selling season. B) the language in the budget must be easy to understand. C) the budget must plan for a relatively short period of time. D) the budget should always seek to incr the planned gross margin over the act gross margin from the previous seaso E) the budget should be flexible. Question 6 1 / 1 point Which of the following figures is NOT found on a six-month merchandise budget? Question options: A) Planned sales percentage B) Planned retail purchases C) Inventory depreciation D) Planned gross margin dollars E) Planned EOM stock
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Question 7 1 / 1 point What figure(s) would NOT be found on a merchandising budget? Question options: A) Planned sales B) Planned initial markup C) Planned gross margin dollars D) Planned retail reduction percentage E) Planned retained earnings Question 8 1 / 1 point Which of the following factors is NOT included in a six-month merchandise budget?
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  • Spring '14
  • Revenue, gross margin, Question options

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