Multiple Choice Questions( Help)

FratBro23
Category:
Accounting
Price: $10 USD

Question description

QUESTION 1

  1. The price at which the product should be sold to the consumer is called the _______ price.

    retailer's

    list

    manufacturer's

    raw material

10 points  

QUESTION 2

  1. The amount deducted when a manufacturer sells an item to the wholesaler is called the ____________.

    markup

    markup rate

    trade discount

    bonus

10 points  

QUESTION 3

  1. Discounts that are deducted one after the other from the list price are called _______________.

    trade discount series

    inconsequential trade discounts

    spontaneous trade discounts

    earned trade discounts

10 points  

QUESTION 4

  1. When the decimal equivalents of the complements of the discount rates are multiplied to give a single decimal, this single decimal is called the ___________________.

    markup

    net decimal equivalent

    markdown

    asset depreciation

10 points  

QUESTION 5

  1. A reduction of the amount due on an invoice is called a(n) ______________.

    trade discount

    net discount

    cash discount

    unearned discount

10 points  

QUESTION 6

  1. EOM means _____________.

    extra on merchandise

    end of May

    end of month

    end of money

10 points  

QUESTION 7

  1. ROG means __________________.

    rejection of goods

    rate of goods

    roster of goods    *receipt of goods

    receipt of goods

10 points  

QUESTION 8

  1. In the case of partial payments, the ________________ is the partial payment plus the partial cash discount.

    amount received

    amount returned

    amount credited

    amount displaced

10 points  

QUESTION 9

  1. The terms of freight shipment are indicated on a document called a _______________.

    bill of lading

    notice of freight

    notice of weight

    charge for freight

10 points  

QUESTION 10

  1. If the freight is paid by the buyer, the bill of lading is marked ____ point.

    FOS shipping

    FOT destination

    FOB shipping

    FOL destination


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Rice University
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