An invoice of $2,400 is dated June 2, terms 2/10, n/30. If the invoice is paid on June 9, the amount to be paid is:
A) $48.
B) $240.
C) $2,352.
D) $2,400.
C) $2,352.
Explanation: invoice amount × discounted amount; ex: $2,400 × .98 = $2,352
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a. True b. False Indicate whether the statement is true or false
Which of the following is a documentary symptom that relate to all kinds of understatement of liability fraud?
a. Transactions recorded in a complete or timely manner. b. Reconciliation statement on unexplained items. c. Unusual discrepancies between the entity's records and confirmation replies. d. Balances or transactions that have supporting documents.
While preparing the April 30th bank reconciliation for the checking account for Calvin Corporation, the accountant identified the following items: Balance per Calvin's company records $15,000 Outstanding checks 2,500 Bank service charge 15 A customer's NSF check returned by the bank 100 What amount will Calvin report as its actual cash balance at April 30th?
A) $12,385 B) $12,500 C) $14,885 D) $17,385
One Laptop Per Child is a nonprofit initiative with the goal of making extremely low-cost laptops available to children in the developing world, with the goal of helping them learn skills needed in today's workforce. If some of the low-cost technology developed for this laptop found its way into laptops created for U.S. consumers, this would be an example of
A. reverse innovation. B. franchising. C. glocalization. D. a strategic alliance. E. purchasing power parity.