November 17th

1. Inventory would be listed as a

a. Long term Asset

b. Current Asset

c. Current Liability

d. Owner’s Equity

2. In periods of inflation which method of inventory valuation would give greater profits?a. LIFO

b. FIFO

c. FISH

d. PIFO

3. Which of the following is NOT one of the rules in preparing the merchandize budget?

a. Always be prepared in advance of the selling season

b. The language of the budget must be easy to understand

c. Plans should be made for a two to three year period

d. Flexible enough to permit changes

4. According to Call of the Mall, which of the following is TRUE about international malls?

a. Safer to shop in Brazil than Japan

b. People dress casually to shop at the mall

c. High-end retailers love to see Japanese wearing their brands

d. Spanish and Portuguese Malls have architecture that support retailing

5. The FDA have moved to ban

a. Caffeinated Alcohol drinks