Description : Hale Company sells merchandise on account for $1,500 to Kear Company with credit terms of 2/10, n/30. Kear Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount ... is the amount of the check? a. $1,470 b. $1,476 c. $1,200 d. $1,176
Last Answer : d. $1,176
Description : Company A sells $500 of merchandise on account to Company B with credit terms of 2/10, n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? a. $350 b. $490 c. $450 d. $400
Last Answer : b. $490
Description : If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sales a. discount. b. return. c. contra asset. d. allowance.
Last Answer : b. return.
Description : Holt Company sells merchandise on account for $2,000 to Jones Company with credit terms of 2/10, n/30. Jones Company returns $400 of merchandise that was damaged, along with a check to settle the account within the discount ... the amount of the check? a. $1,960 b. $1,968 c. $1,600 d. $1,568
Last Answer : d. $1,568
Description : Company X sells $400 of merchandise on account to Company Y with credit terms of 2/10, n/30. If Company Y remits a check taking advantage of the discount offered, what is the amount of Company Y's check? a. $280 b. $392 c. $360 d. $320
Last Answer : b. $392
Description : Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. ... . b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.
Last Answer : d. increased by $19,308.
Description : Zach's Market recorded the following events involving a recent purchase of merchandise: Received goods for $50,000, terms 2/10, n/30. Returned $1,000 of the shipment for credit. Paid $250 freight on the shipment ... 020. b. increased by $49,250. c. increased by $48,265. d. increased by $48,270.
Last Answer : d. increased by $48,270.
Description : In a perpetual inventory system, the amount of the discount allowed for paying for merchandise purchased within the discount period is credited to a. Merchandise Inventory. b. Purchase Discounts. c. Purchase Allowance.
Last Answer : a. Merchandise Inventory.
Description : Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600
Last Answer : b. $4,900
Description : A buyer would record a payment within the discount period under a perpetual inventory system by crediting a. Accounts Payable. b. Merchandise Inventory. c. Purchase Discounts. d. Sales Discounts.
Last Answer : b. Merchandise Inventory.
Description : The Merchandise Inventory account is used in each of the following except the entry to record a. goods purchased on account. b. the return of goods purchased. c. payment of freight on goods sold. d. payment within the discount period.
Last Answer : c. payment of freight on goods sold.
Description : The Sales Returns and Allowances account does not provide information to management about a. possible inferior merchandise. b. the percentage of credit sales versus cash sales. c. inefficiencies in filling orders. d. errors in overbilling customers.
Last Answer : b. the percentage of credit sales versus cash sales.
Description : Freight costs paid by a seller on merchandise sold to customers will cause an increase a. in the selling expense of the buyer. b. in operating expenses for the seller. c. to the cost of goods sold of the seller
Last Answer : b. in operating expenses for the seller.
Description : 11) The only service that both rack jobbers and cash -and -carry wholesalers perform is A)personal sales calls on customers. B)providing credit to customers. C)delivering merchandise to customers. D)providing advice to customers. E)physical possession of merchandise.
Last Answer : E)physical possession of merchandise.
Description : Based on what he has heard regarding the profitability of such items, Fred Goldstein is considering adding a fresh shellfish case in his grocery store. Fred knows very little about this product or ... )Limited -line B)Specialty -line C)General merchandise D)Rack jobber E)Limited -service merchant
Last Answer : B)Specialty -line C)General merchandise
Description : Shoplifting' is known as _____________ 1. theft of retail merchandise during store house 2. burglary of a house 3. Both 1 and 2 4. Neither 1 nor 2 5. None of these
Last Answer : theft of retail merchandise during store house
Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.
Last Answer : c. Purchases Returns and Allo
Description : In terms of liquidity, merchandise inventory is a. more liquid than cash. b. more liquid than accounts receivable. c. more liquid than prepaid expenses. d. less liquid than store equipment.
Last Answer : c. more liquid than prepaid expenses.
Description : If a retailer orders a quantity of merchandise to be delivered to his store in Dublin and is quoted a price that does not include transport costs, the retailer is paying a price called: A)F.O.B. destination. B)F.O.B. factory. C)geographic price. D)freight absorption price. E)base -point price.
Last Answer : B)F.O.B. factory.
Description : As an incentive for customers to pay their accounts promptly, a business may offer its customers a. a sales discount. b. free delivery. c. a sales allowance. d. a sales return.
Last Answer : a. a sales discount.
Description : Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account
Last Answer : b)Customer’s account
Description : A shopper approaches the store's manager and says that he has seen a blender on display he wishes to buy. The manager asks him to fill out an order form and someone from customer service would ... shopping in a A)hypermarket. B)superstore. C)catalogue showroom. D)warehouse club. E)discount store.
Last Answer : C)catalogue showroom.
Description : A wholesaler sells printer cartridges. The minimum order quantity is 5. There is a 20% discount for orders of 100 or more printer cartridges. You have been asked to prepare test cases using various values for the number of printer cartridges ... A. 5, 6, 20 B. 4, 5, 80C. 4, 5, 99 D. 1, 20, 100
Last Answer : C. 0, 1,10,11, 50, 51, 75, 76,100,101
Description : Location is extremely important to a retailer because: A)suppliers charge more to service stores in certain trading areas. B)a desirable location appeals to consumers' emotions and encourages them ... which the store must draw its customers. E)convenient location is an essential customer service.
Last Answer : D)location determines the trading area from which the store must draw its customers.
Description : A temporary price reduction to resellers for purchasing specified quantities of a product is: A)premium money B)a merchandise allowance C)a buying allowance D)a buy -back allowance E)a money refund
Last Answer : A)premium money
Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production
Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market
Description : Once every year a farmer walks about on his farm property, picks out his favorite tree, and chops it down with an axe. He then drags the tree home and puts it in a metal bowl. The farmer ... a crisp. How can you explain this apparent drastic change in the farmer's mood toward this tree? -Riddles
Last Answer : The man owns a Christmas tree farm where he grows thousands of Christmas trees for sale to the public. He is simply performing his annual Christmas ritual of selecting a tree, placing it in a tree stand, keeping it healthy for two weeks, and then disposing of it.
Description : The kitchen store sells______at 50% discount Answers:KnifeKnivesLnifes?
Last Answer : Knife
Description : what- Brandon’s Ink Store is selling black printer ink for $5 a cartridge and color ink for $8 a cartridge. Shelly’s Discount Ink sells the same cartridges for $6 and $7 respectively?
Last Answer : On a given weekday, each store sold $1,680 worth of ink. The profits for that day can be modeled by the equations below.5b + 8c = 1,6806b + 7c = 1,680Are the lines parallel? Answer yes or no.
Description : Is there a discount store for air filters in Omaha, Nebraska?
Last Answer : There are several discount stores for air filters in Omaha, NE according to the Omaha online yellow pages.
Description : Who can tell me online store outlet that sells discount running shoes women?
Last Answer : The Official Nike online store has discounted shoes for women. So I would suggest buying woman's running shoes from there. I would also suggest sorting the search by low-high for a better chance of looking for cheap running shoes.
Description : Where can I find a discount Saucony shoes store?
Last Answer : If you are looking a discounted saucony shoes try to look in an ebay or amazon online. You can also try a second hand saucony shoes or try to find a sale so that you can purchase a discount saucony shoes.
Description : Is there any store near my place that offers tire discount?
Last Answer : There are many online shops that sell tires. Amazon.com is one of online shop that sells tires for any kind of auto cars and you can get free 5% of discount. You can visit www.amazon.com
Description : What is the wholesale cost of a dress? a. The dress was listed at a price that would have given the store a profit of 20 percent of the wholesale cost. b. After as 10% discount on the list price ... question. e) If the data in statement a, b and c together are not sufficient to answer the question.
Last Answer : Let C be the wholesale price, listed Price be P. from (a), P = 1.2C From (b), 0.9P = C + 10. Using statement (a), 1.2C = C + 10, from this we can determine C. From (C), ... even if we combine information from other statements. So (a) and (b) together are sufficient to answer the question. Answer: c)
Description : Major retailer types include the following EXCEPT ________. A. specialty store B. discount store C. catalog showroom D. the Internet
Last Answer : D. the Internet
Description : The buyer at Exeter Furniture Store is informed that if she will increase her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a ... future. The discount offered here is A)cash. B)noncumulative. C)seasonal. D)trade. E)cumulative.
Last Answer : B)noncumulative.
Description : Matt's girlfriend tells him she wants jewellery for Christmas. Matt decides to go to a store that provides the best possible selection of jewellery. His best choice would be to shop at a __________ store. A)department B)catalogue C)discount D)speciality E)convenience
Last Answer : D)speciality
Description : A __________ is a retail establishment that combines supermarket and discount store shopping in one location. A)superstore B)department store C)category killer D)hypermarket E)megamarket
Last Answer : D)hypermarket
Description : Price -Rite Carpets is located out -of- town, in a large, low -cost single storey building with no window displays and takes a minimilist approach to store ambiance and customer service. The Price - ... an example of a: A)discount shed. B)warehouse club. C)speciality store. D)convenience store.
Last Answer : A)discount shed
Description : A small hardware store whose only competitor is a huge discount store would be least likely to use which competitive tool? A)services B)price C)product offering D)distribution E)promotion
Last Answer : B)price
Description : Can the Pope copyright his image, like other famous people do so that if anyone wants to make merchandise with his likeness on it, they have to pay for a licensing fee or pay royalties or the like?
Last Answer : answer:Let’s not forget this classic song The Pope Smokes Dope I wonder if Francis would approve….
Description : What would you do if you overheard a store employee making fun or talking bad of one of their customers behind his/her back?
Last Answer : I would note their names and tell the store manager.
Description : Is a store owner legally obligated to serve all customers?
Last Answer : Does the business owner have a sign that says: We reserve the right to refuse service to anyone for any reason ? I don't mean to be smarmy, but I have seen these signs many times in my life ... our property. Once I had a manager who refused service to one of her ex-boyfriends for cheating on her.
Description : A world-famous magician and his young assistant were observed walking slowly along in a department store when suddenly they both stopped walking and began to slowly rise from the floor. The two ... and his assistant accomplished this feat, and why didn't the onlookers express amazement? -Riddles
Last Answer : The magician and his assistant were simply using an escalator to go up to the next floor in the department store.
Description : Sanchita is working for a nationalized bank and is in the process of creating a table to store the details of customers of the bank. -Technology
Last Answer : Primary key AccountNoCandidate key AccountNo and PAN NumberAlternate key PAN Number
Description : Name the data type that should be used to store AccountCodes liko “A1001” of Customers -Technology
Last Answer : varchar data type should be used to store AccountCodes like ”A100111 of customers.
Description : What hosting is best used for doing business on the Internet ( I have my own small store and I want to increase the number of customers by expanding the geography of sales)?
Last Answer : I am looking for ways to expand my business through modern technologies.
Description : Where could I find mobility scooters for customers to use in my store?
Last Answer : Shoprider makes these sorts of scooters for stores. You can buy them through their website http://shopridermobilityscooter.co.cc/. Mart Cart (http://www.martcart.com/) claims to have the number one ... also find them at http://www.dickensenterprises.com/amigo.html and http://www.amigoshopper.com/
Description : . At the Melting Moments, an ice cream parlour, customers place their orders, watch their ice- cream sundaes being prepared, and then quickly eat the sundaes in the store before the ice cream ... known as A. Inseparability B. Intangibility C. Heterogeneity D. Perishability E. Dependency
Last Answer : D. Perishability
Description : In the retail trade customer thresholds refer to the number of customers: A)required to make a profit. B)a store can hold comfortably at any one time C)a store can take for health and safety reasons.
Last Answer : A)required to make a profit.