This retail dictionary was created as a resource for retailers
and students. I have written all of the definitions myself and have
tried to provide accurate and helpful explanations of the terms
involved in this glossary. This retail dictionary is being built and
will take a bit to finish. If you have any specific questions or
suggestions, please let me know.
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0-9 A B C D E F G H I J K L M N O P Q R S T U V W X
Y Z
All of the definitions on this page are internal anchors that link
to themselves
Anytime a retailer purchases goods or services on
credit, you will be liable to another company’s accounts payable
department.
Accounts receivable - An
account for money owed to a business. Money can be owed from
customers or vendors.
Acid-Test Ratio - The
acid test ratio is also known as the quick or liquid ratio. When
performed, it measures how a company's current assets measure up to
current liabilities. The equation for this ratio is:
Active
listening - Active
listening can be used in a retail context to listen and understand
how your customers feel and what they mean. Often, you can follow up
with a statement to check and make sure that you and your customer
have a mutual understanding.
Activity reports - An
activity report is a report containing any information that you find
important to your business such as benchmarks or number of customers
helped.
Actual
product - The actual
product is how the product you are selling exists in reality and
includes the features, branding, and styles of the product.
