| A | B |
|---|
| Retail Functions | Buying, Selling, Operations, Control |
| Personnel | Recruiting, selecting & training |
| Maintenance | Keeping the building & property clean |
| Merchandise | Must be checked, marked & stocked |
| Credit | Extended to customers; type of sale |
| System | set of procedures designed to accomplish a goal |
| Quantitative | numerical or financial measurement |
| Inventory | Goods for sale on hand |
| Efficienct | quick, simple, prevents duplication |
| Loss Protection | Theft and other destruction of property |
| Economical | resaonable cost |
| Manual | System using a hand-written ledger |
| Electronic | System on computer, cash register |
| Quick-Books | Example of financial record keeping software |
| Purchase Order | A request for merchandise |
| Invoice | A record of shipment & the bill |
| Physical Inventory | manual count of goods |
| Book Inventory | Items sold - Items received |
| Income Statement | profit or loss for a given period |
| Balance Sheet | Assets & Liabilities - Owns vs. Owes |
