Question 41 Not yet answered Marked out of 1.00 Discounts received are Select one: a. Deducted when we receive cash b. Given by us when we sell goods on credit c. Deducted by when we pay our accounts d. None of these Clear my choice MIL. Question 42 Not yet answered Marked out of 1.00 Depreciation is best described as: Select one: a. a means of spreading the payment for non-current assets over a period of years b. a decline in the market value of the assets c. a means of spreading net cost of non- current assets over their estimated useful life d. a means of estimating the amount of money needed to replace the assets Clear my choice Question 43 Not yet answered Marked out of 1.00 Which of these best describes a statement of financial position? Select one: a. An account proving the books balance O b. A record of closing entries c. A list of balances d. A statement of assets Clear my choice Question 44 Not yet answered Marked out of 1.00 We originally sold 25 items at $12 each, less 33? % trade discount. Our customer now returns 4 of them to us. What is the amount of credit note to be issued? Select one: a. $48 b. $36 c. $30 d. $32 Clear my choice Question 45 Not yet answered Marked out of 1.00 A cash discount is best described as a reduction the sum to be paid Select one: a. If payment is made within a previously agreed period b. If payment is made either by cash, not cheque c. If payment is made either by cash or cheque d. If purchases are made for cash, not on credit Clear my choice