Trade discounts are offered ________ and cash discounts are offered ________
A) to speed up collection of credit accounts; to speed up collection of trade accounts
B) to speed up collection of credit sales; for specific services performed for the vendor
C) for specific services performed by credit customers; for specific services performed by
cash customers
D) for specific services performed for the vendor; to speed up collection of credit sales
D
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What are constraints? Provide an example.
What will be an ideal response?
Television is not the most cost-effective way to deliver messages to large, well-defined audiences.
Answer the following statement true (T) or false (F)
Liquidity ratios indicate a company's
A. relative amounts of funds supplied by creditors. B. profitability and leverage ratios. C. ability to meet its long-term financial obligations. D. ability to generate a financial return on sales. E. ability to pay short-term debts.
Which of the following audit tests would be regarded as a test of control?
A. Tests of the specific items making up the balance in a given general ledger account. B. Tests confirming receivables. C. Tests of the additions to property, plant, and equipment by physical inspection. D. Tests of the signatures on canceled checks to board of director's authorizations.