Test Bank For Retail Management A Strategic Approach 10th Edition Berman
Multiple Choice - Terminology/Concept
1. Which statement concerning retailing is correct? a. Retailing activities cannot be performed by wholesalers. b. It is the last stage in the distribution process. c. All retail activities are store-based. d. A lawyer purchasing stationery for use in his/her office is an example of retailing. (b; Challenging; p. 4)
2. According to the Department of Commerce, annual U.S. retail store sales exceed _____. a. $200 billion b. $1 trillion c. $2 trillion d. $4 trillion (d; Moderate; p. 6)
3. How many million people are employed by traditional retailers in the United States? a. 7 b. 15 c. 25 d. 30 (c; Moderate; p. 6)
4. On average, what percent of every sales dollar goes to department store retailers as compensation for the activities they perform? a. 15 b. 22 c. 30 d. 50 (c; Moderate; pp. 6-7)
5. In 2004, the three largest retailing companies (based on annual sales) in order of size (from the largest firm) were _____. a. Sears, Kmart, and Federated Department Stores b. Sears, Wal-Mart, and J.C. Penney c. Wal-Mart, Sears Roebuck, and Kroger d. Wal-Mart, Home Depot, and Kroger (d; Moderate; p. 7)
Multiple Choice - Terminology/Concept
6. In 2004, the ten largest U.S. retailers earned average after-tax profits amounting to about _____ percent of sales. a. 1.1 b. 2.5 c. 3.3 d. 5.7 (c; Moderate; pp. 7-8)
7. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer constitute _____. a. a channel of distribution b. wholesaling c. retail management d. the sorting process (a; Moderate; p. 8)
8. An electronics retailer accomplishes a consumer’s one-stop needs through _____. a. the sorting process b. a deep channel of distribution c. a wide channel of distribution d. exclusive distribution (a; Challenging; p. 8)
9. The sorting process refers to _____. a. physical distribution assortment by perishability b. a
1. Which statement concerning retailing is correct? a. Retailing activities cannot be performed by wholesalers. b. It is the last stage in the distribution process. c. All retail activities are store-based. d. A lawyer purchasing stationery for use in his/her office is an example of retailing. (b; Challenging; p. 4)
2. According to the Department of Commerce, annual U.S. retail store sales exceed _____. a. $200 billion b. $1 trillion c. $2 trillion d. $4 trillion (d; Moderate; p. 6)
3. How many million people are employed by traditional retailers in the United States? a. 7 b. 15 c. 25 d. 30 (c; Moderate; p. 6)
4. On average, what percent of every sales dollar goes to department store retailers as compensation for the activities they perform? a. 15 b. 22 c. 30 d. 50 (c; Moderate; pp. 6-7)
5. In 2004, the three largest retailing companies (based on annual sales) in order of size (from the largest firm) were _____. a. Sears, Kmart, and Federated Department Stores b. Sears, Wal-Mart, and J.C. Penney c. Wal-Mart, Sears Roebuck, and Kroger d. Wal-Mart, Home Depot, and Kroger (d; Moderate; p. 7)
Multiple Choice - Terminology/Concept
6. In 2004, the ten largest U.S. retailers earned average after-tax profits amounting to about _____ percent of sales. a. 1.1 b. 2.5 c. 3.3 d. 5.7 (c; Moderate; pp. 7-8)
7. All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer constitute _____. a. a channel of distribution b. wholesaling c. retail management d. the sorting process (a; Moderate; p. 8)
8. An electronics retailer accomplishes a consumer’s one-stop needs through _____. a. the sorting process b. a deep channel of distribution c. a wide channel of distribution d. exclusive distribution (a; Challenging; p. 8)
9. The sorting process refers to _____. a. physical distribution assortment by perishability b. a