A startup business should initially purchase the minimum quantity of equipment and supplies needed.

Vendors are also called suppliers.

You should always choose the vendor who provides the lowest prices.

Retail, service, and manufacturing businesses must purchase inventory before they can open for business.

For a manufacturing business, inventory is merchandise purchased with the intent of either reselling it or using it to produce the business's finished product.

A startup business should not tie up too much cash in inventory.

Ongoing business usually have a good idea of how much inventory they need to operate.

An estimate of how much you will pay for merchandise is:

Which of the following types of business does NOT always need inventory before it can open for business?

For a retail business, inventory consists of:

Determining the amount of inventory to keep in stock is particularly difficult for owners of new businesses because

To make sure you do not run out of stock unexpectedly, you can

_______ are companies that sell products and service to businesses.

Which of the following is NOT considered inventory?

Which of the following is the least important factor in determining the reorder point for a sale item in your store?

Determining the amount of inventory to keep in stock is difficult for all business owners, not just new entrepreneurs.

Only retail businesses need to take inventory, because they are the only types of businesses that sell products to customers.

Before you purchase supplies for your business, contact several vendors and ask them to quote you a price.

For this type of business, inventory consists of the parts that will go into producing the business’s product as well as its finished goods.

Warehouses are general one of the most inexpensive rental facilities for a retail business.

An advantage of working at home is that many costs are reduced or eliminated.

The cost of maintaining an online business is much less than the cost of buying or leasing a building.

A business has the choice to locate at Site A, which is close to the market, or Site B, which is close to materials and labour. The benefit of choosing Site A over Site B is that it is close to:

Which of the following businesses is most likely to locate close to the market?

Neighborhood shopping centers are often called strip malls.

Community shopping centers are small shopping centers that serve a certain neighborhood.

Wholesale companies need a location that attracts a lot of retail traffic.

An advantage of working at home is that many costs are reduced or eliminated.

All of the following is NOT true about businesses operating in a warehouse:

All of the following describe super-regional shopping centers EXCEPT:

Which of the following is a disadvantage of running a virtual business?

Most entrepreneurs prefer to lease space for their businesses.

In a gross lease, the landlord pays property taxes and the tenant pays rents, insurance, and any other expenses.

The percentage lease is most common for prime retail locations.

You should always consult an attorney before signing a commercial lease agreement.

Rent per customer equals the amount of rent times the number of projected customers.

A scale drawing of your floor plan will help identify potential problems in your layout.

Wholesales should design a layout that facilitates shipping and receiving.

Attractiveness is the most important design factor for a manufacturing business.

Most entrepreneurs lease business space because

A lease in which the landlord pays all property expenses is a:

A lease in which the landlord receives a percentage of tenant's revenue each month in addition to rent is:

A possible location for a busines shas rent of $975 per month and projected traffic of 9,600 customers per month. Rent per customer is:

The layout, outside sign, and window displays of your business:

The goal of your layout should be to:

The layout of an on-site service business:

All of the following are important for a manufacturing business's layout EXCEPT:

Which of the following is NOT a location option for a retail business?

Which of the following service businesses would consider the same location factors as a retail business?

Which of the following is NOT a good reason to locate a business in the home?

Which of the following is the LEAST important consideration when organizing the layout of a retail business?

You are choosing between a neighborhood shopping center and a stand-alone store for your shoe store. The monthly rent for the shopping center is $3,200 and the projected monthly customer traffic is 6,500. For the stand alone location is $2,500 and the traffic is 5,100. How much does it cost per shopper for the stand-alone store?