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3 . 6 . 1 Which of the following numbers represents the discount percentage applied if a customer pays within a discount window and credit
Which of the following numbers represents the discount percentage applied if a customer pays
within a discount window and credit terms are n
A
B
C
D and
If a customer purchases merchandise on credit and returns the defective merchandise before
payment, what accounts would recognize this transaction?
A sales discount, cash
B sales returns and allowances, cash
C accounts receivable, sales discount
D accounts receivable, sales returns and allowances
Which of the following is a disadvantage of the perpetual inventory system?
A Inventory information is in realtime.
B Inventory is automatically updated.
C It allows managers to make current decisions about purchases, stock, and sales.
D It is costprohibitive.
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