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What does 2 / 1 0 mean, with respect to credit terms of 2 1 0 , n 3 0 ? A
What does mean, with respect to "credit terms of
A A discount of percent will be allowed if the invoice is paid within two days of the invoice date.
B A discount of percent will be allowed if the invoice is paid within days of the invoice date.
C Interest of percent will be charged if invoice is paid after two days.
D Interest of percent will be charged if the invoice is paid after days from the date on the invoice.
Which of the following states that a company must perform strictly proper accounting only for items that are significant to the business's financial statements?
A materiality concept
B disclosure principle
C conservatism
D consistency principle
Under which of the following inventory costing methods is the ending inventory based on the costs of the most recent purchases?
A lastin firstout
B weightedaverage
C specific identification
D firstin firstout
A company purchased units for $ each on January It purchased units for $ each on February It sold a total of units for $ each from March through December What is the cost of ending inventory on December if the company uses the firstin firstout FIFO inventory costing method? Assume that the company uses a perpetual inventory system.
A $
B $
C $
D $
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