Deck 25 Flashcards

(25 cards)

1
Q

agents

A

Intermediaries who bring buyers and sellers together and do not own the goods they sell

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2
Q

allowance

A

A partial return of the sale price for merchandise that the customer has kept

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3
Q

blind check method

A

The receiver of a delivery writes the description of the merchandise, counts the quantities received, and lists them on a blank form or dummy invoice

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4
Q

bonded warehouse

A

Public or private warehouses that store products requiring the payment of a federal tax

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5
Q

budget accounts

A

Accounts that allow the payment of a purchased item over a certain time period without a financial charge

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6
Q

Category Management

A

A process that involves managing product categories as individual business units

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7
Q

Collateral

A

Something of value that a person pledges as payment for a loan in case of a default

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8
Q

Contract Carries

A

For-hire trucking companies that provide equipment and drivers for specified routes

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9
Q

Cost Plus Tracking

A

All costs and expenses are calculated, and the desired profit is added to arrive at a price

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10
Q

Cycle Counts

A

Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores

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11
Q

Decentralized Buying

A

Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores

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12
Q

Direct Check Method

A

The merchandise is checked directly against the actual invoice or purchase order

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13
Q

Doing Business As Registration

A

The registration by which a county government officially recognizes that a new proprietorship or partnership exists

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14
Q

Dollar Control

A

The planning and monitoring of the total inventory investment that a business makes during a stated period of time

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15
Q

Embargo

A

A total ban on specific goods coming

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16
Q

Emotional Motive

A

A feeling experienced by a customer through association with a product

17
Q

Empowerment

A

Encouragement of team members to contribute and take responsibility for the management process

18
Q

Endless Chain Method

A

The process of asking previous customers for names of potential customers

19
Q

Extensive Decision Making

A

The process used when there has been little or no previous experience with an item

20
Q

Foreign Direct Investment

A

Investments in factories, offices, and other facilities in another country that are used for a business’s operations

21
Q

Free-On-Board

A

The prices for goods includes delivery at the seller’s expense to a specific point and no further

22
Q

Freight Forwarders

A

Private companies that combine less than carload or truckload shipments from several businesses and deliver them to their destinations

23
Q

Horizontal Organization

A

A structure where top management shares decision making with self managing teams of workers who set their own goals and make their own decisions

24
Q

Implied Warranty

A

A warranty that takes effect automatically by state law whenever a purchase is made

25
Indirect Distribution
Sales of goods or services to customers through one or mores intermediaries