BOR PRACTICE TEST -RETAKE2024

Front

Which of the following refers to the total amount of money that a retailer brings in? (4.1) Options: Profit, Revenue, Cost of Goods Sold, Operating costs

Back

Revenue

Front

Which of the following refers to the amount of money that a retailer makes after accounting for expenses? (4.1) Options: Profit, Revenue, Cost of Goods Sold, Operation costs

Back

Profit

Front

Which of the following refers to the difference between revenue and cost of goods sold? (4.1) Options: Net profit, Gross profit, Profit margin, Profit margin percentage

Back

Gross profit

Front

Which of the following refers to the difference between revenue and all expenses, including the cost of goods sold and operating expenses? (4.1)

Back

Net profit

Front

If a business' revenue is $1,150 and its cost of goods sold (COGS) is $734, what is the business' gross profit?

Back

$416

Front

Visual merchandising accomplishes which of the following:
Organizes merchandise in the stockroom,
Promotes products using magazine advertisements,
Allows customers to make connection with products,
Creates advertising billboards

Back

Allows customers to make connection with products

Front

What is the proper way to process the sale at the register for 2 Black Beans, 5 Kidney Beans, and 3 Golden Corn cans? Options: Scan the 10 cans individually, Scan 1 can of black beans and update the quantity to 2; 1 can of kidney beans and update the quantity to 5; and 1 can of golden corn and update the quantity to 3., Scan 1 can of beans and update the quantity to 8, and 1 can of golden corn, & update the quantity to 2., Scan any can and update the quantity to 10.

Back

Scan 1 can of black beans and update the quantity to 2; 1 can of kidney beans and update the quantity to 5; and 1 can of golden corn and update the quantity to 3.

Front

Your store is running a promotion on pickles. They have created an end-cap display. A customer accidentally runs into the display with their shopping cart and many bottles of pickles fall and break. You see the mess as you walk by. What’s the best next step for the sales associate?

Back

Check on the shopper to ensure they are unharmed and direct traffic away from the area until it can be cleaned up.

Front

What sales strategy can help clear out remaining summer merchandise during the transition to back to school? Options: Introduce an employee incentive plan for the salesperson who sells the most summer apparel that week. Suggest shipping the summer merchandise to an outlet store to make room for the spring line. Put up signs throughout the store stating that all summer merchandise is ”while supplies last.” Reduce pricing on summer apparel by 60% or more and add incentives for purchasing sunscreen, bathing suits, and tank tops.

Back

Reduce pricing on summer apparel by 60% or more and add incentives for purchasing sunscreen, bathing suits, and tank tops.

Front

The FIFO method makes sure that which of the following occurs:

Back

Items with the nearest-term expiration dates are in the front