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Kamila [148]
3 years ago
14

The Sales Discounts Forfeited account ________. Select one: A. represents additional sales revenue B. is a contra Sales Revenue

account C. is a balance sheet account D. represents the discount lost when a customer does not pay within the discount period
Business
1 answer:
lina2011 [118]3 years ago
5 0

Answer:

D) represents the discount lost when a customer does not pay within the discount period

Explanation:

When a business uses the net method for accounting sales and purchases, they include all the possible discounts in the sales or purchases that they make. E.g. a store that sells $1,000 in merchandise and offers a 3% discount within 10 days (3/10, n/30) will record accounts receivable and sales revenue at $9,700 since it expects its customers to pay within the discount period.

Dr Accounts receivable 9,700

    Cr Sales revenue 9,700

But if the customers do not pay within the discount period, accounts receivables and sales revenue must be adjusted. The sales discounts forfeited account should be used to adjust both accounts by increasing sales revenue and at the same time debiting accounts receivable fro $300.

Dr Accounts receivable 300

    Cr Sales discounts forfeited 300

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At least once a year, budgeted spending should be compared against ____ spending.
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the question is incomplete .please read below to find the missing content

The popularity of social media sometimes leads to a new stage in the hierarchy of effects known as ________ where loyal consumers recommend brands they have adopted.

Multiple Choice

evaluation

advocacy

preference

interest

repurchase

Advocacy is the activity of individuals or groups aimed at influencing decisions within political, economic, and social institutions. Advocacy Her group, for example, is a non-profit organization dedicated to helping women who have been victims of domestic violence and are afraid to speak up for themselves.

Advocacy includes promoting the interests or causes of someone or a group of people. An advocate is someone who advocates, endorses, or supports a cause or policy. Advocacy is also about helping people find their voice. There are three types of advocacy: self-advocacy, individual advocacy, and system advocacy.

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4 0
2 years ago
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brilliants [131]

Answer:

Selecting

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The answer has been added into the question in this paragraph. It is in bold letters. Opportunity recognition is the process of identifying, <u>selecting</u>, and developing new venture opportunities.

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The correct answer is C

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