Ga Testing Practice Test Buying & Merchandising

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A large shipment of linens just arrived from a very reliable vendor. The receiving department has copies of the invoice and the purchase order. Which of the following would be the quickest way to check this incoming stock:

1 point

Direct Check

Random Check

Blind Check

Quantity Check

Clear selection

What system do e-tailers use to completely avoid the need to plan or maintain storage space?

1 point

Courier service

Ground delivery

Drop shipping

Direct mailing

Clear selection

Why should inventory be organized before it is counted?

1 point

It makes it easier to count

It identifies inventory shrinkage

It identifies fast sellers

It simplifies the development of a merchandising plan

Clear selection

What is one of the advantages to a small gift shop of maintaining a just-in-time inventory control system?

1 point

Helps to control costs

Verifies quantities in stock

Regulates value of goods

Makes it possible to change data

Clear selection

What is one of the advantages to a small gift shop of maintaining a just-in-time inventory control system?

1 point

Helps to control cost

Verifies quantities in stock

Regulates value of goods

Makes it possible to change data

Clear selection

A raw-goods producer is a type of business that

1 point

produces finished goods

is not essential to other producers

produces goods in their natural states

refines raw goods

Clear selection

In a private enterprise economic system, consumers can choose from a variety of products as a result of

1 point

inflation

limited government control

competition

the collection of taxes

Clear selection

What category of business risk would include competition, shifts in consumer demand, and obsolescence?

1 point

Pure

Natural

Economic

Human

Clear selection

What is the government doing when it buys wheat to keep the price high enough for farmers to make a profit?

1 point

Encouraging energy conservation

Encouraging the production of wheat

Industrualizing the economy

Using price supports

Clear selection

The prices of goods and services remaining fairly steady is an indication that the economy is

1 point

risky

depressed

elastic

stable

Clear selection

Why do nations need to export goods to other countries?

1 point

To provide jobs for their citizens

To obtain resources for production

To share technological advances

To develop political relationships

Clear selection

"I can't agree to your terms until I discuss the situation with my manager." This is an example of the negotiating strategy...

1 point

good cop/bad cop

limited authority

deadline-driven

bargaining

Clear selection

Which of the following is a characteristic of effective leaders:

1 point

Relying entirely on research

Never making mistakes

Willing to take risks

Satisfied with status quo

Clear selection

35. What do retailers use to keep track of daily financial transactions?

1 point

Balance Sheets

Accounting records

Inventory reports

Bank statements

Clear selection

Which of the following is a reason why a purchasing-department manager might fire an employee for cause:

1 point

Employee consistently performs poorly on the job

Employee seriously violates company policy?

Employee complains about an internal problem

Employee appears to be unqualified for the position?

Clear selection

One of the advantages of rewarding merchandising employees is that the offer of a reward often encourages them to be:

1 point

financially motivated

competitive

cost conscious

creative

Clear selection

Which of the following types of evaluations measure employees according to the quantity of their production:

1 point

Analytical

Objective

Subjective

Divisional

Clear selection

39.Which of the following is a disadvantage of an hourly wage plan for compensating retail employees:

1 point

There is a large amount of clerical work involved

No immediate incentive for extra effort or good work is offered

The employee knows how much s/he will receive each time

It offers no profit-sharing plan

Clear selection

Which of the following is the primary ethical consideration if a large retailer sells a customer list to another business:

1 point

Exclusivity

Publicity

Exaggeration

Privacy

Clear selection

Which of the following is an important aspect to consider when a toy store begins to assess its marketing information needs:

1 point

Signage

Government

Production

Competition

Clear selection

A manufacturer of retail goods that wants to use marketing research in order to try out different solutions to a problem needs to use research.

1 point

descriptive

exploratory

predictive

casual

Clear selection

Retail chains often collect marketing information from customers in order to learn which products

1 point

sell best in certain locations

earn the highest profits

meet specific design standards

qualify for vendor discounts

Clear selection

Which major marketing function determines how various products will be shipped?

1 point

Servicing

Warehousing

Distribution

Transportation

Clear selection

For the strategy of conducting customer surveys, with tactics including contacting customers and tabulating survey results, which of the following is the goal:

1 point

Improving this year's telemarketing skills by 7% over last year's skills

Improving this year's customer satisfaction by 7% over last year's ratings

Improving this year's proposal writing by 7% over last year's writing

Improving this year's sales training results by 7% over last year's results

Clear selection

57. What do you need to identify if there are complicated jobs that members of the group are unable to perform?

1 point

Alternative tasks

Support services

Technical equipment

Replacement items

Clear selection

Why should purchasing specialists develop positive relationships with their suppliers?

1 point

To prevent supplier theft

To help ensure that the suppliers will follow through on their promises

To eliminate the need to look for back-up sources of goods and services

To increase the ratio of materials' cost to finished product cost

Clear selection

Obtaining needed materials and hiring qualified people to assemble widgets are examples of activities.

1 point

purchasing

human resource

production

economic

Clear selection

One reason a small retailer would keep on hand only the amount of supplies needed to do business for a short period of time would be because of a lack of

1 point

storage space

personal property

raw materials

dollar control

Clear selection

A budget can be used by a merchandiser as a(n)

1 point

statement of net worth

planning and controlling tool

record of actual expenses

analysis of income versus expenses

Clear selection

In retail merchandising, one of the major functions of business maintenance is to

1 point

protect products from damage

keep the business spotlessly clean

create a favorable impression

keep accurate business records

Clear selection

A cash register has an opening change fund of $50.00. The total sales indicated on the detail audit tape registered $676.00. Cash received for the day was $676.00. The register was

1 point

$50.00 short

$50.00 over

balanced

out of order

Clear selection

Which of the following would be considered a short-term objective:

1 point

Finishing a six-week computer-software course

Paying off a twenty-five year mortgage

Becoming president of a large corporation

Becoming fluent in a foreign language

Clear selection

What should individuals take into consideration when researching employment opportunities in retail merchandising?

1 point

Safety program

Vacation time

Office environment

Future outlook

Clear selection

The travel discount offered to members of an association of retail-merchandisers is an example of which of the following benefits of association membership:

1 point

Participation in trade shows

Sales promotion events

Establishment of standards

Group services

Clear selection

Which of the following is an important part of the planning phase of the merchandising cycle:

1 point

Negotiating discounts

Identifying vendors

Forecasting sales

Developing displays

Clear selection

When preparing a merchandising budget, retailers calculate open-to-buy by subtracting goods received and goods on order from

1 point

estimated sales

planned purchases

planned reductions

estimated allowances

Clear selection

When a customer requests an item the business does not have in stock, the buyer must decide whether to order the item based on whether the product will

1 point

please management

planned purchases

planned reductions

estimated allowances

Clear selection

What factors must retailers consider while determining when to buy merchandise from their supplies?

1 point

Quantity discounts and brand

Peak season and vendor demand

Lead time and stock turnover rate

Vendor storage procedures and price

Other:

Clear selection

An environmental factor within a retailer that can contribute directly to customer satisfaction is the retailer's

1 point

layout

return on investment.

publicity

organizational chart

Clear selection

Promotion benefits the economy by:

1 point

developing loyalty to businesses

building goodwill among customers

providing many job opportunities

sharing information with competitors

Clear selection

Which of the following is a use of institutional promotion:

1 point

Creating consumer awareness of a good or service

Informing the public about the company's future

Encouraging interest in a good or service

Building a reputation for a product

Clear selection

Which of the following situations most accurately depicts a promotional ethical issue in relation to children:

1 point

A newscast teaser televises graphic film clips of a war zone during prime-time viewing

A print ad in a national teen magazine shows a girl modeling fashionable outerwear

A radio spot announces an upcoming concert for preteens during the morning time slot

A television commercial portrays preschool-age children eating breakfast

Clear selection

To qualify as a specialty medium, an item must be

1 point

manufactured with the business's logo on it

sold to a prospective customer

used for decorative purposes only

delivered through the mail

Clear selection

Which of the following is a sales-promotion device that retailers often set up to attract customers and encourage them to buy:

1 point

Interior wall shelves

Eye-level display cases

Cardboard posters

Point-of-sale displays

Clear selection

Deciding how much money to budget for advertising and special events is an important part of developing an

1 point

accounting system

promotional plan

sales forecast

product policy

Other:

Clear selection

The children's department put together a back-to-school display featuring boys and girls slacks and shirts, shoes, jackets, backpacks, and school supplies. This is a merchandise display based on a(n)grouping

1 point

unrelated

one-category

variety

theme

Clear selection

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