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Elena-2011 [213]
3 years ago
13

Which of the following best describes credit sales? Multiple Choice Cash sales to customers that are new to the company. Sales t

o customers using credit cards. Sales to customers on account. Sales with a high risk that the customer will return the product.
Business
2 answers:
gayaneshka [121]3 years ago
7 0

Answer:

The correct answer is letter "C": Sales to customers on account.

Explanation:

Credit sales are all those a creditor provides on account to a debtor with the promise of repayment on a determined period depending on the type of agreement between the two parties. Credit sales allow a business to attract more customers under the risk they will not be able to collect the debt.

Llana [10]3 years ago
5 0

Answer:

Sales to customers on account.

Explanation:

Sales to customers is usually done in two ways; Cash and credit.

In the accrual system of accounting, sales is recognized in the books whether cash has been collected or not.

When a sale is done in credit, it is said to have been done on accounts and the entries recorded would be credit sales and debit accounts receivables. The debit entry would have been to cash account if cash had been collected.

Hence credit sales refers to Sales to customers on account.

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Jerry contributed $8,000 for a 25% interest in a bookstore. He also contributed a cash register, with a fair market value of $49
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Answer:

The Jerry's partnership basis in the bookstore at the end of the year is $23,350.

Explanation:

Workings

Contributed Capital = $   8,000

Add: Adjusted basis of cash register = $       350

Add: Share of Profit ($60000 X 25%) = $ 15,000

Partnership basis at the end of the year = $ 23,350

8 0
3 years ago
For the last five years, the HR manager at Fresh Foods has been asking all applicants to appear for a test. The HR manager now i
Troyanec [42]

Answer:

The correct answer is predictive validity test.

Explanation:

A predictive validity test is carried out in order to predict the performance that a collaborator will have in the future. With this dynamic, it is ensured that an honest employee is hired, and that he always acts under the rules of the organization to which he will belong. In general, there are discrepancies compared to what many people can do under certain circumstances, and this test is precisely what they want to know about the performance under different scenarios.

8 0
3 years ago
Read 2 more answers
Louise purchased a disability policy when her salary was $4,000 a month. Later, she lost that job and her salary was reduced to
kondaur [170]

Answer:

$3,500

Explanation:

This is because every Health and Disability Income Policy express the conditions and provisions for continuation of the contract on the new income level.

3 0
2 years ago
You found your dream house. It will cost you $300000 and you will put down $30000 as a down payment. For the rest you get a 30-y
Andrews [41]

Answer:

$1,282.80

Explanation:

The PMT formula is used for this question. The attachment is shown below:

The NPER shows the time period

Given that,  

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Future value = $0

Rate of interest = 4% ÷ 12 months = 0.33%

NPER = 30 years × 12 months = 360 months

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

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5 0
3 years ago
Define securitization.​
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