Multiple Choice
Which of the following is a type of accounting primarily concerned with providing information to internal management for decision-making purposes?
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1. Introduction to Accounting
Types of Accounting
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Wholesalers are often called _____.
A
manufacturers
B
consumers
C
retailers
D
middlemen
Verified step by step guidance1
Step 1: Understand the role of wholesalers in the supply chain. Wholesalers act as intermediaries between manufacturers and retailers or consumers, facilitating the distribution of goods.
Step 2: Recognize that wholesalers purchase goods in bulk from manufacturers and sell them in smaller quantities to retailers or other businesses, making them a 'middleman' in the process.
Step 3: Eliminate incorrect options by analyzing their roles. Manufacturers produce goods, consumers purchase goods for personal use, and retailers sell goods directly to consumers.
Step 4: Identify that the term 'middlemen' accurately describes wholesalers because they bridge the gap between manufacturers and retailers or consumers.
Step 5: Conclude that the correct answer is 'middlemen,' as it aligns with the definition and role of wholesalers in the supply chain.
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