Which of the Following Best Describes Credit Sales

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Solved Which Of The Following Best Describes Credit Sales Chegg Com

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. A Selling more than you can manufacture andor you hold in inventory. Which of the following best describes days sales outstanding. BTo estimate bad debt expense based on a percentage of credit sales made during the period.

Interest payments on the national debt can support spending on other. Sales taxes are an expense of the seller. Average length of time inventoried item is in stock before it is sold.

Which of the following statements best describes a negative consequence of the federal governments use of credit. A plan for marketing and sales to work together on content creation. Answer c is correct because tactical profit plans have the characteristics.

A Sales journal B Sales returns journal CPurchases journal. Though there are several organizations that attempt to set standards in the purchasing process processes can vary greatly between organizations. 3 6 0 0 0 0.

Its list price is 1 000. Which of the following best describes overtrading. The government can use money from securities sales to help people in emergencies.

A document that outlines the service marketing will provide to sales. Which of the following statements best describes a negative consequence of the federal governments use of credit. Manufacturing expenses Rs.

Tactical profit plans are quantitative with detailed assigned. Mr Kane took goods at cost for himself amounting to 500. Many companies record sales taxes in the sales account.

Banks and other lenders share the credit history of their borrowers with each other and are likely to know of any loan payments that you have missed d. What is the sale price. Credit sales for the year to the current date were 49275000 and cost of sales was 37230000.

Government use of credit increases the. As per definition of purchasing all of the given options will be best. Debit receivables ledger control with total gross sales credit sales with total net sales and credit sales tax account with total sales tax.

Government use of credit increases the. Of being quantified detailed and short-term and assigning. A debit note is a document made out when goods are A returned B overcharged Csold D undercharged 3.

Purchasing refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise. Which of the following statements best describes a negative consequence of the federal governments use of credit. Which of the following figures represents the total in Mr.

Business Accounting QA Library Which of the following best describes the objective of estimating bad debt expense with the percentage of credit sales method. There is a promise to pay at a certain date which is agreed by both the parties to the contract. Mr Abel and Mrs Blue purchased goods on credit valued at 50 and 75 respectively from Mr.

Answer b is incorrect because tactical profit. Each sales invoice should be supported by a shipping document. Which of the following best describes the entries that are made using the sales day book totals at the end of each month.

These levels of credit sales and cost of sales are expected. Under this there is no inflow of cash just the outflow of goods and services. From the following details calculate Gross profit and Net profit of XYZ Ltd.

Categories Sales Enablement Certification. Administrative expenses Rs. D A new personal computer for the office.

Which of the following books of original entry should be used to record credit sales. Which of the following best describes the economic order quantity EOQ model. With delayed payments customers generate cash with their purchases which is then used to repay.

Which of the following best describes the primary sources of income for most people aged 20-35. A 200 B 800 C 1 000 D1 200 2. Financial expenses Rs.

ATo estimate the amount of bad debt expense based on an aging of accounts receivable. Average length of time it takes to turn a cash outflow into a cash inflow. B Having too much working capital thus reducing profitability.

Average time between receipt of inventory and collection on a credit sale. If you missed a payment more than two years ago it cannot be considered in a loan decision 28. Another customer paid cash for goods amounting 550.

Sales to customers on account. Selling and distribution expenses Rs. Average time it takes to collect on a credit sale.

Opening stock 2 6 0 0 0 0. The government can use money from securities sales to help people in emergencies. If sales taxes are included in the sales account the first step to find the amount of sales taxes is to divide sales by 1 plus the sales tax rate.

Credit sales are the sales under which the goods and services are being delivered to the customer but the revenue is yet to be received. Sales journal entries should be reconciled to daily sales summaries. Which of the following would not be financed from working capital.

Answer a is incorrect because. 5 0 0 0. 3 6 0 0 0.

The credit sale is the purchase of a product made by a customer who does not make full payment at the time of purchase. Government use of credit increases the total national debt and interest payments. To achieve good internal accounting control which department should perform the activities of matching shipping documents with sales orders and preparing daily sales summaries.

An agreement between sales and marketing that requires certain actions from each team. The government can use money from securities sales to help people in emergencies. A document that outlines the service sales will provide to marketing.

Which of the following is not a correct statement about sales taxes. The process of examining how a change in a single item in a budget eg sales volume affects one or more items in the budget eg budgeted sales revenue and budgeted operating income is generally referred to as. Credit sales refer to the transfer of ownership of goods or services to a customer with the amount due to be paid at a later date.

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