Ashley Furniture received an invoice for $4,850, dated May 19. Terms were 2/15, net 30 days. How much will Ashley pay if the invoice was electronically paid on June 2?
What will be an ideal response?
$4,753
$4,850 × .98 = $4,753
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Many companies assign only the net invoice price for merchandise to inventory and cost of goods sold. All other costs, including transportation and other costs of bringing merchandise to the place of business, are charged to expense of the period in which they are incurred. Which accounting principle or concept is applied in this example?
a. Historical cost b. Matching c. Cost/Benefit d. Conservatism
Markets can work to prevent harm only through information supplied by the existence of market successes.
Answer the following statement true (T) or false (F)
The ________ for a guest paying for a night's stay at a hotel is the use of a bed, bathroom, towels, dresser, light, and closet
A) actual product B) core product C) value-deliverable product D) customized benefit E) augmented product
In the growth stage of the product life cycle, _____
a. a wide variety of retailers offer a large range of prices, services, and quality b. promotion must be explanatory in nature c. a skimming price strategy is used d. product sales reach their maximum