- What is the first step in building a committed workforce?

A) Recruiting the right people

B) Organizing the tasks in a position

C) Training and development

D) Developing a job description

E) None of these

2- Some retailers liquidate end-of-season merchandise to retailers like Winners, who in turn sell it at deep discounts. What is the benefit to the retailer who liquidates using this strategy?

A) It provides space for new merchandise

B) It lowers the reputation of the company who purchases the liquidated merchandise

C) Vendors like it because they are able to sell the merchandise to another retailer

D) The retailer is able to replace the merchandise with other markdowns

E) Manufacturers know they should produce less of the product for replenishment

3- Which of the following would be listed as a liability on the balance sheet of Home Hardware, a hardware store?
Question 42 options:

A) The store's accounts receivable

B) The cash in the store's cash register

C) The store's private parking lot

D) The store's inventory of sandals and open-toed shoes

E) None of these

4- How can Paul, the owner of a sporting goods store, use inventory turnover?
Question 40 options:

A) To see how effectively he utilizes his investment in inventory.

B) To see how effectively buyers purchase the right assortments.

C) To measure average inventory.

D) To calculate net sales.

E) None of these

5- Alina is planning to open a boutique in Halifax, specializing in large women's sizes. What is her best option for merchandising her store on her limited budget?
Question 37 options:

A) Convince vendors to visit her store

B) Interact electronically with vendors on a retail exchange

C) Buy at similar shops going out of business

D) Use a resident buying office to buy in Montreal and Hong Kong

E) Visit trade shows in Toronto once a year

6- Headphones Express, a retailer specializing in headphones, advertised the Beats Solo3 headphones for $179, but they only had 1 unit in stock. Which of the following describes this scenario?
Question 36 options:

A) Leader pricing

B) Odd pricing

C) Sale below regular price

D) Bait and switch

E) Competitive pricing

7- Shampoos, chcolate bars, and small kitchen appliances, for Real Canadian SuperStore, would be examples of:
Question 35 options:

A) categories

B) SKUs

C) breadth of merchandise

D) inventory investment

E) variety

8 - Managing diversity means:
Question 31 options:

A) using the same approach to deal with each employee

B) trying to get everyone to think and act alike to avoid problems

C) accepting and valuing how employees differ from each other

D) treating each employee as a unique individual as long as it does not affect the treatment they get

E) simply obeying all equal employment opportunity laws

9- Build-A-Bear is a unique specialty store that teaches its customers how to build a cuddly stuffed animal through a series of stations throughout the store. Each bear is unique. The core of the business is light-hearted and kid-oriented. Even the CEO calls herself Chief Executive Bear. The focus on fun, creativity, and humour can be considered a part of the:
Question 29 options:

A) organization culture

B) corporate procedure

C) human resource plan

D) corporate structure