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2 years ago

When merchandise is returned for a refund or for credit to be applied to other purchases, the situation is called a(n)

1 answer:

4 0

The situation when a merchandise is returned for a refund or for credit to be applied to other purchases is called Purchase return inwards.

<h3>Return inwards</h3>

A purchase return as the name implies occurs when the buyer of a merchandise, services, inventory, fixed assets, or other items sends these goods back to the seller.

These purchase returns when excessive can interfere with the profitability of a business, so they should be closely monitored.

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The United States and the European Union are groups of semi-independent states that have come together under an agreement whereb

goldfiish [28.3K]

Answer:

C. Each state or country can adopt large-scale production techniques that allow lower per-unit costs of production.

Explanation:

Typically explained, Economies of scale (EOS) are the advantages or benefits a firm achieves due to increase in production or operation which in turn leads to decrease in per unit costs.

Here in this question, it is evident that the only way economies of scale could be achieved is by increasing the large scale production techniques that leads to lower per-unit costs of production for the firms.

Hope this clear things up.

Thank you.

6 0

4 years ago

Read 2 more answers

Oriole Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $65

labwork [276]

Answer:

Explanation:

The journal entries are shown below:

Using net method:

1. Notes receivable A/c Dr $650,000 ($659,900 - $9,900)

To Sales revenue A/c $650,000

(Being the sale is recorded)

2. Cost of goods sold A/c Dr $460,000

To Inventory A/c $460,000

(Being cost of goods sold is recorded)

3. Cash A/c Dr $659,900

To Notes receivable $650,000

To Discount forfeited $9,900

(Being received payment is recorded)

Using gross method:

1. Notes receivable A/c Dr $650,000 ($659,900 - $9,900)

To Sales revenue A/c $650,000

(Being the sale is recorded)

2. Cost of goods sold A/c Dr $460,000

To Inventory A/c $460,000

(Being cost of goods sold is recorded)

3. Cash A/c Dr $659,900

To Notes receivable $659,900

(Being received payment is recorded)

6 0

3 years ago

Jane is 22 years old. for her job, she needs to take an intelligence test. which would be the most appropriate test for her age

Makovka662 [10]

The most appropriate intelligence test would be the WAIS IV test. This test is used for anyone between the age of 16 and 90 years old. It is frequently used to test adults and older adolescents. This intelligence test can be used for many different purposes (anything from job qualifications to treating psychological disorders).

6 0

3 years ago

g Experts suggest that firms wanting to globalize through e-commerce must first localize, which means firms need to ________. A.

Ludmilka [50]

Answer:

C. modify their products and services to meet the needs and interests of local cultures

Explanation:

Globalization is a phenomenon that enables companies to generate increased profitability and conquer new markets by implementing their businesses in other countries. Therefore, a company that wants to go global through e-commerce needs to modify its products and services to meet the needs and interests of local cultures, as entering an international market requires planning and structuring organizational processes that take into account that each country has their social and cultural particularities, their tastes and needs that are different from each other, which requires an adaptation of a company's products and services, so that they are well accepted and meet the specific needs of that market.

It is then necessary to research, plan and implement a global business strategy that takes local differences into account and includes them in its processes and values.

4 0

3 years ago

Chiller Company has credit sales of $5.60 million for year 2013. Chiller estimates that 1.32% of the credit sales will not be co

dsp73

Answer:

$59,045.80

Explanation:

The following information was missing:

Accounts Receivable total $1,565,170

Assuming the company uses the percent of accounts receivable method, what is the amount that Chiller will enter as the Bad Debt Expense in the December 31 adjusting journal entry?

total uncollectible debt = $1,565,170 x 4% = $62,606.80

since the account balance of the allowance for doubtful accounts is $3,561 (credit), the adjusting entry should be:

December 31, 2013, bad debt expense

Dr Bad debt expense (= $62,606.80 - $3,561) 59,045.80

Cr Allowance for doubtful accounts 59,045.80

7 0

3 years ago