Final answer:
Account titles on financial reports for a Play It Again Sports franchise might include revenue from sales, cost of goods sold, and operating expenses. Resale stores like Play It Again Sports experience increased sales during times of economic downturn due to consumers seeking affordable options, people selling unused sports equipment for extra cash, and the lower prices offered by resale stores.
Step-by-step explanation:
On financial reports for a Play It Again Sports franchise, you might find account titles such as:
- Revenue from Sales
- Cost of Goods Sold
- Inventory
- Operating Expenses
- Depreciation
- Marketing Expenses
- Interest Expenses
- Income Tax Expenses
Resale stores, including Play It Again Sports, often experience increased sales during times of economic downturn for a few reasons:
- Consumers may be more focused on finding affordable options rather than buying brand new items.
- People may try to sell their unused sports equipment for some extra cash.
- Resale stores typically offer lower prices, making them a more attractive option during tough economic times.