Retail Readiness Programme Recap - Unit 1 and 2

Name any 2 Legislation Acts that are important in the retail industry.

• Occupational Health and Safety Act

• The Bribery Component Act

• National Credit Act

The following is not a step to follow when selecting a supplier.

• Analyse the business requirement

• Supplier Search

• Proposal Evaluation

• Payment to be receive favorable treatment

• Contract Negotiation

Give one reason why it is important to know the stock levels in your store.

The following is an advantage of keeping records in a small business?

• Money can be stolen

• Correct reporting to the receiver of revenue

• You will be able to buy less products

List any two duties that a retail worker may have to carry out.

The following are the main objectives of financial management in a store.

• To maximise profits

• To reduce expenses

• To reduce shrinkage and wastage

• All of the above are correct

The following businesses are all competitors to Shoprite.

• Pick n Pay Clothing

• Hungry Lion

• Boxer

• Pick n Pay

• Ok Furniture

 Explain why new stock received should be packed behind the older stock.

How do stock levels impact on the cash flow of a store?

Why must records be kept in business?

• For fun

• For correct reporting

• To spend more

• To spend less