Answer:
In the books of seller, cash discount is deducted from the invoice price when the buyer pays earlier or on the date/term stipulated
Explanation:
- An early payment discount or cash discount is the reduction in invoice price due to payment before the due date.
- A number of factors should be considered to see how much discount should be provided . Some of them are: check the cash discount offered by competitors, and check the payment history of the customer.
- This strategy helps close the gap in cash flow and boost the working capital.
The term used to describe expenses that are incurred by a specific department is direct expenses.
Accounting divides business expenses into two categories: operating expenses and non-operating expenses.
The operating expenses are associated with the primary activities of the business, such as the cost of goods sold.
Non-operating expenses, on the other hand, are those incurred that are unrelated to the primary activities of the business entity.
- Option a. is not correct. Indirect expenses aid in the operation of the business but are not directly traceable to the products, such as corporate office rent, employee salaries, and so on. In general, indirect expenses are recorded on the income statement under the heading "Selling and general administrative expense."
- Option b. is also wrong. There are no such things as margin costs.
- Option c is not correct. Departmental expenses are expenses, but they are not expenses incurred by a particular department.
- Option d. is the correct response. Direct Expenses are expenses incurred solely for the benefit of specific departments.
Hence, direct expense is the answer.
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Answer:
the total of quick assets is 173,000
Explanation:
assets are fast, they are those that are considered current, that is, in less than a year they can be used to cancel liabilities or acquire other goods.
First we dismiss all liability accounts.
Then we analyze the possibility of assets "becoming" money in less than a year.
They are the following items:
Accounts receivable 45,000
Cash 20,000
Inventory 72,000
Marketable securities 36,000
Total = 173,000
Answer: A non-profit organization.
Explanation:
A non-profit organization provides goods or services for a social cause to benefit the public.
Rather than distributing extra revenue to members or shareholders, the extra income is used to further achieve its goals.
Most non-profit organizations are tax exempt.