Answer:
A) Refer to merchandise that customers return to the seller after the sale.
Explanation:
Option B is wrong because the sales return comes from customer selling while a purchase discount is given to the customer.
Option C is wrong because the sales discount can reduce the selling price of merchandise sold to customers.
Option D is wrong because the trade discount helps to the customer so that they can give less payment during purchase or sales.
Option E is wrong because the cash discount is given to customers to encourage early payment.
Option A is correct because when the customer returns the products to the seller after the sale is called sales returns.
Answer:
a increases
Explanation:
Producers react to an increase in the demand for goods and services by increasing their output. Growth in market demand presents an opportunity for businesses to make profits. As firms attempt to meet the increased demand, they create job opportunities in the following ways.
1). The existing companies expand their current factories or open new branches in different locations to increase output. These moves will demand extra employees to handle administrative and production duties.
2). Start-up businesses will emerge to compete with existing firms. Entrepreneurs are quick to spot market opportunities. When demand is high, new ventures will be formed to provide solutions to customers' needs. New firms create job opportunities in the economy.
Answer:
Mel, an agent for a dress shop, orders one hundred dresses from SAG Manufacturing for the April Sale. There is no specific agreement in the sale contract indicating when title will pass to the department store. The title will pass to the department store when
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c. SAG physically delivers the dresses to the department store. IF THERE IS NO EXPLICIT AGREEMENT REGARDING WHEN TITLE PASSES, TITLE OF THE GOODS WILL PASS WHEN THE SELLER COMPLETES DELIVERY OF THE GOODS.
Frank contracts with Bumper Cars, Inc. to buy five bumper cars. The contract lists the five cars as BC001, BC002, BC003, BC004, BC005. Identification
- b. has taken place. SINCE THE GOODS HAVE ALREADY BEEN MARKED AND DESIGNATED, IDENTIFICATION HAS TAKEN PLACE.
Olga’s Clothing Store contracts to buy forty men’s suits from Louie’s Manufacturing, Inc. Unless the contract states otherwise, it is assumed to be
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c. a shipment contract. A SHIPMENT CONTRACT REFERS TO A CONTRACT WHERE THE SELLER IS AUTHORIZED TO DELIVER THE PASS THE GOODS TO THE BUYER BUT A DELIVERY POINT HAS NOT BEEN SPECIFIED, THEREFORE, TITLE PASSES AT THE POINT OF SHIPMENT.
Answer:
$137,000
Explanation:
The computation of Budgeted cash collections in June is shown below:-
June sales collected in June = June Sales × Sale percentage
= $150,000 × 30%
= $45,000
May sales collected in June = May sales × Following month percentage
= $130,000 × 60%
= $78,000
April sales collected in June = June sales × Following second month percentage
= $140,000 × 10%
= $14,000
Total cash collections in June =June sales collected in June + May sales collected in June + April sales collected in June
= $45,000 + $78,000 + $14,000
= $137,000
