D Question 2 6 pts O True O False D Question 3 6 pts SMALL-SCALE BUSINESSES serv

Question

D Question 2 6 pts O True O False D Question 3 6 pts SMALL-SCALE BUSINESSES serve a much smaller area than corporations or larger private businesses. The smallest-scale businesses serve single communities, such as a convenience store in a rural township. The very definition of small-scale prevents serving areas much larger than a local area, since growing beyond that would increase the scale of a small business's operations and push it into a O True O False DQuestion 4 2 pts CONSIGNMENT is the sales process whereby the actual product and/or service is not purchased in-advanoed; however, it is purchased on a per product/per service delivery basis. In some cases, a percentage of revenues on products andlor services sold is negotiated: True O False

Explanation / Answer

2. True, as Approximately 3% of shoplifters are “professionals”.

3. True

4. False, as Consignment is the sales process in which the actual product or service has been purchased in advance and it's in process of delivery.

5. True

6. False, as Operating expenses are expenses which are incurred in the running of the business, which is not directly related to manufacturing.

7. False, as the calculation of total revenue minus total expenses is Net Income and not the Net loss.

8. True

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