Sales returns and allowances:
A. are offered as a way to encourage customers to make prompt payment.
B. are included on external financial statements to allow investors to compare the company's results with industry standards.
C. would include terms "2/15, n/60" which allows the customer to take a 15% discount if paid in 2 days.
D. are not included on most externally reported income statements.
Answer: D
You might also like to view...
The equation for economic value added excludes operating income and current liabilities
Indicate whether the statement is true or false
What need initially brought about the development of social entrepreneurship?
a. nonprofits that realized the need for long-term funding b. business leaders who grew unhappy with the pure pursuit of profits c. the failure of domestic American charities to address international needs d. the failure of nonprofits to address local concerns instead of broad national or international ones
The leadership style of a manager who is not concerned about people but exhibits high concern for production would likely be located at the __________ placement on the Leadership Grid.
A. 1,9 B. 9,9 C. 9,1 D. 1,1 E. 5,5
Convert the following mixed number to an improper fraction: 
A. 
B. 
C. 
D. 