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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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The Foundational 15 [LO10-1, LO10-2] [The following information applies to the questions displayed below.] Westerville Company r
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Answer:

Margin = 1%

Explanation:

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3 years ago
El Tapitio purchased restaurant furniture on September 1, 2021, for $35,000. Residual value at the end of an estimated 10-year s
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Answer and Explanation:

The computation of the depreciation expense using straight line method is shown below:

Formula to be used:

= (Purchase cost - salvage value) ÷ (estimated service life)

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= $3,000

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3 0
2 years ago
Activity-based costing accumulates overhead in one cost pool, then:_____.a. assigns the overhead to products and services by mea
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Answer:

c. allocates overhead to activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers.

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The activity based costing is the costing that helps to allocated the indirect cost or we can say the manufacturing overhead cost with the help of the many cost drivers  or the many activity cost pools

Like if we allocate the setup cost so we have to allocated with the number of machine setups.

For the inspection cost, the number of inspections is required so that the allocation could be done

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Which activity is a violation of intellectual property rights
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Answer:

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For example a patent infringement happens when a company uses someone else's patent for producing their owns products or services, e.g. copy cell phone technologies.

Another common example is copyright infringement that happens when someone downloads a movie, song or software from the internet without paying a fee.

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3 years ago
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