Practice Test
Chapter 6:
Merchandise Planning
Practice Test
1.
Inventory plays a big role in the success of a retail business.
a.
TRUE
b.
FALSE
2.
A purchase order is generated when a vendor prepares merchandise for shipping.
a.
TRUE
b.
FALSE
3.
Visual inventory is when retailers physically count the merchandise in their inventories.
a.
TRUE
b.
FALSE
4.
Inventory refers to merchandise that is not on display.
a.
TRUE
b.
FALSE
5.
The purpose of checking in merchandise is to make sure that the shipping costs were paid.
a.
TRUE
b.
FALSE
6.
Which of the following is not a type of checking in?
a.
quality check
b.
indirect check
c.
inventory check
d.
quantity check
7.
At this stage of the merchandise life cycle, the retailer should purchase small quantities and watch those items carefully to determine customer acceptance:
a.
introduction
b.
growtn
c.
acceptance
d.
decline
8.
A basic budgeting tool that assists the retailer or buyer in meeting departmental or classification goals is a:
a.
sales plan
b.
merchandise plan
c.
inventory plan
d.
merchandise life cycle
9.
These rates are used by retailers to compare their businesses to those of the competition:
a.
inventory rates
b.
stock-turnover rates
c.
merchandise rates
d.
invoices
10.
Merchandise that sells well at certain times of the year is known as:
a.
holiday merchandise
b.
convenience merchandise
c.
staple merchandise
d.
seasonal merchandise
Fatal error
: Failed opening required '../sec/marketingeducation/retailing/menus/student.html' (include_path='.:/usr/local/php_4.1.2/lib/php') in
/web/sites/glencoe.com/home/qe/qe152005.php
on line
98
