A sales invoice included the following information: merchandise price, $5,000; freight, $900; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $700 is granted prior to payment, that the freight is has already been prepaid by the seller, and that the invoice is paid within the discount period, what is the remaining amount of cash that should be received by
the seller?
A) $4,257
B) $4,300
C) $3,400
D) $4,950
A
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A. a firm getting rid of surplus inventory. B. a firm that provides only management skills, while others own the production and distribution facilities. C. a domestic firm entering into a partnership with a foreign firm. D. a firm selling the right to use some process, trademark, or other right for a fee. E. a separate firm owned by a parent company.
If either the goods or their tender fails to conform to the contract in any respect, the buyer or lessee must reject all of the goods
Indicate whether the statement is true or false
Ethnocentrism is the tendency to judge others by the standards of one's own culture or group, which are seen as superior.
Answer the following statement true (T) or false (F)
A company is not required to report a per share amount on the face of the income statement for which of the following items?
a. Net income b. Prior period adjustment c. Extraordinary item d. Discontinued operations