Retailing 1 Final Test Review - 1 of 2

Which of the following describes a freestanding retail location?

• Found in a large shopping mall complex.

• A store located in a stand-alone building.

• Situated within an unplanned business district.

• Operated solely through an e-commerce platform.

What is the primary purpose of Key Performance Indicators (KPIs) in retail?

• To monitor and track employee working hours.

• To measure and assess the performance of the business.

• To calculate expenses for annual tax filings.

• To analyze the effectiveness of advertisements.

What is the role of zoning laws in retail location selection?

• To manage store layout and organization.

• To regulate property use and construction.

• To monitor customer traffic and footfall.

• To limit online retail business activities.

What does “cart abandonment rate” measure in e-commerce?

• Percentage of visitors who leave a website before purchase.

• Number of failed transactions during checkout.

• Total time spent browsing a website without buying.

• Frequency of adding items to the cart without payment.

What is multichannel retailing?

• Selling products through a single platform.

• Offering products across various sales channels.

• Using mobile apps exclusively for transactions.

• Providing in-store only shopping options.

What does the income statement primarily show?

• Current inventory levels and prices.

• Business revenues and expenses over time.

• Total assets and liabilities of the business.

• List of sales and customer feedback.

Which retail store type is temporary and seasonal?

• Brick-and-mortar store

• Freestanding building

• Pop-up shop

• Centrally planned business district

What is a Point of Sale (POS) system?

• A system for managing employee schedules.

• Software for processing customer payments.

• An inventory tracking platform.

• A marketing tool for promotional campaigns.

What is the purpose of cash flow statements?

• To record customer complaints and resolutions.

• To summarize cash entering and leaving the business.

• To list inventory shortages and restocking timelines.

• To track daily sales against yearly targets.

Which of the following describes omnichannel retailing?

• Selling exclusively through e-commerce platforms.

• Offering seamless experiences across all shopping channels.

• Using only mobile-friendly websites for transactions.

• Limiting customer touchpoints to physical stores.