Trade credit
Small firms may be able to get finance in the form of trade credit from their suppliers. Suppliers enable the company to obtain the products and services it requires and pay for them later or in installments.
<h3>What is the meaning of trade credit?</h3>
A business-to-business (B2B) agreement known as trade credit allows customers to make purchases of goods without paying in cash upfront and to make payments to suppliers at a later date. Businesses that use trade credits typically give customers 30, 60, or 90 days to make payment, with the transaction being documented by an invoice.
Trade credit can be compared to a form of 0% financing because it increases an organization's assets while deferring payment for a certain amount of products or services to the future and requires no interest payments throughout the repayment period.
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Answer:
The cost of goods sold for the year is $134,300
Explanation:
The cost of goods sold for the year = Beginning inventory + Merchandise Purchased - Ending inventory
Tuity Fruity Beverage Company's purchases $140 comma 700 and has beginning inventory 12 comma 600, ending inventory 19 comma 000.
Therefore:
The cost of goods sold for the year = $12,600 + $140,700 - $19,000 = $134,300
Answer:
B) $24,500
Explanation:
ABC's foreign tax credit should be $25,000, but there is a foreign tax credit limitation that it cannot exceed, that limitation would be:
[foreign income / (domestic income + foreign income)] x domestic tax liability
= [$80,000 / ($120,000 + $80,000)] x $61,250 = $24,500
Since $24,500 is lower than $25,000, then you have to take $24,500
You have to have a business to buy from wholesale! Such as Walmart or I think even Dollar tree for example. Since these places need to make a profit. I would give you a better answer with more explanation but I dont know much about this so that’s all I know! Hope this helped in a way! <3