Deck 25 Flashcards Preview

50 Terms > Deck 25 > Flashcards

Flashcards in Deck 25 Deck (25):
1

agents

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

2

allowance

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

3

blind check method

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

4

bonded warehouse

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

5

budget accounts

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

6

Category Management

A process that involves managing product categories as individual business units

7

Collateral

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

8

Contract Carries

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

9

Cost Plus Tracking

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

10

Cycle Counts

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

11

Decentralized Buying

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

12

Direct Check Method

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

13

Doing Business As Registration

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

14

Dollar Control

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

15

Embargo

A total ban on specific goods coming

16

Emotional Motive

A feeling experienced by a customer through association with a product

17

Empowerment

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

18

Endless Chain Method

The process of asking previous customers for names of potential customers

19

Extensive Decision Making

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

20

Foreign Direct Investment

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

21

Free-On-Board

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

22

Freight Forwarders

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

23

Horizontal Organization

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

Implied Warranty

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