Explain the difference between turnover and net sales. 2. What is gross margin? How do we calculate the percentage of gross margin? In your explanation, assume the net turnover is $ 100,000 and that the cost of sales is $ 60,000. 3. What is a credit card discount? How? 'Or' What does this discount affect the amounts shown in the income statement? 4. What is a sales discount? Use the modalities of 1/10, n / 30 in your explanation. 5. What is the distinction between a return and discount on sale and a discount on sale? 6. Explain the difference between accounts receivable and receivables. 7. Why do companies need to test for depreciation of their accounts receivable at the end of the year? 8. How does the company assess the impairment of its accounts receivable at the end of the year? 9. What is the effect of recognizing an impairment? customer accounts on: a) the net result? b) net accounts receivable? 10. In general, an increase in the turnover rate of accounts receivable indicate a recovery over faster or slower accounts receivable? Explain your answer. 11. Define the term "cash" and the expression "Cash equivalents" in the context of accounting. 12. Summarize the main characteristics of a control efficient internal cash flow. 13. Why should cash handling and cash accounting be separate activities? How is such a distribution of tasks? 14. What are the objectives of the bank reconciliation? What balances are we trying to reconcile? 15. Briefly explain how to calculate the amount total of the Treasury account before entering it in the statement of the financial situation. 16. According to the gross amount method, should the amount of sales discounts be recognized: at the time the sale is registered; or to when the collection of the account is checked in ? (Annex 6-A)