Answer: The net method assumes that discount are taken when a purchase or sale of inventory is made on account.
Explanation:
An invoice is a document sent by the seller to the buyer showing the description of the goods bought, the quantity, and the price. In invoice prices are sometimes given subject to so much percentage cash discount. The cash discount is a percentage reduction from the quoted prices of goods.It is an allowance given by the seller to the buyer in order to encourage the buyer to pay promptly. The term of sale known as net date with discount is a process whereby goods bought by the buyer are not paid for immediately, but it is paid for at a later date.
The net method of accounting assumes that the buyer will make use of the opportunity provided by the cash discount given by the seller and pays promptly in order to enjoy the cash discount. For example 2/10 net 30, this means that the buyer will be given 2% discount if the buyer pays within ten days, Therefore, the net method assumes that discount are taken when a purchase or sale of inventory is made on account. Also in the net method the recording of purchase is done with the cash discount given to the buyer by the seller, while sales are usually recorded at the net price.
Production planning ,production control , quality and cost control and inventory control
<span> The correct answer
follows; the cross price elasticity of demand for iceberg lettuce with respect
to romain lettuce is positive and the cross price elasticity of demand for
iceberg lettuce with respect to tomatoes is negative. Cross price elasticity is
being defined as a demand of which measures the quantity demand responsiveness
in regards of a good in which changes for another good. </span>
Answer:
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Explanation:
Answer:
Engaging, Listening, and Analyzing.
