Select the correct option:

1. Office salaries, depreciation of office equipment, and office supplies are examples of what type of expense?

a. selling expense

b. miscellaneous expense

c. administrative expense

d. other expense

2. Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as

a. sales on account

b. sales returns

c. cash sales

d. sales when the credit card company remits the cash

3. The amount of the total cash paid to the seller for merchandise purchased would normally include

a. only the list price

b. only the sales tax

c. the list price plus the sales tax

d. the list price less the sales tax

4. Taking advantage of a 2/10, n/30 purchases discount is equal to a yearly saving rate of approximately

a. 2%

b. 24%

c. 20%

d. 36%