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Last Updated: Aug 08, 2026
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| Section | Objectives |
|---|---|
| Workforce & Store Management | - Store Workforce Activities
|
| Retail Store Operations | - Sales and Performance Metrics
|
| Customer & Store Experience | - Customer Service Principles
|
| Inventory and Stock Management | - Inventory Control Processes
|
1. Main resources of store are
A) People
B) All of the above
C) Inventory
D) Retail Space
2. Shrinkage in Inventory management refers to
A) The difference between the actual inventory in the store and the inventory in the system
B) Non moving stock over specified levels specified in the system.
C) Excess inventory in the system due to non moving stock.
3. Which of the following equations can be used to calculate shrinkage in a mens shirts store?
A) No. of shirts in stock-No. of shirts arriving in store
B) No. of shirts in stock-No. of shirts sold
C) No. of defective shirts in stock-No. of shirts in system inventory
D) No. of shirts in stock-No. of shirts in system inventory
4. Which of the following performance indicator is part of both gross margin as well as sales information?
A) Return on labor
B) Return on space
C) Return on inventory
D) None of the above
5. Selling merchandise to other businesses in bulk is known as
A) Loyalty program
B) None of them
C) Promotional sales
D) Institutional sales
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: D |
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