IDIS 240 Final Exam – Vestal Questions with Complete Solutions 100%
IDIS 240 Final Exam – Vestal Questions with Complete Solutions 100% Cash Flow - Correct Answer Cash in bank purchased inventory sold inventory accounts receivable cash in bank List Price - Correct Answer The retail price listed selling price - Correct Answer list price - trade discounts Net price - Correct Answer = selling price - allowable discounts (cash discounts) Net Sale Cost of Good Sold (COGS) - Correct Answer = Cost of Merchandise + Freight from Manufacturer Trade Discounts - Correct Answer specify term of sale and change of price with how they see fit. Cash Discounts - Correct Answer given to encourage buyers to promote payment promptly. Special Orders - Correct Answer instructions given by the buyer on how to deliver or manufacture the order. Minimum Order vs. Freight Allowed - Correct Answer Minimum order: The minimum amount you can order from a manufacturer Freight Allowed: manufacture pays for the shipping and just adds to the cost. Claims - Correct Answer request for payment from the insurance company to cover financial losses. Returns - Correct Answer goods returned to the business that sold them
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- May 3, 2024
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