A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. The amount of the cash paid on July 28 equals:
A. $200.
B. $1,568.
C. $1,564.
D. $1,600.
E. $1,800.
Answer: D
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A home appliance manufacturer observes the following and determines that his competitors are pricing their imported goods below-cost sale. Which point would have helped him come to this conclusion?
a. The amount of general expenses was 12 percent of the cost of manufacturing. b. The cost of packaging the merchandise for shipment was included. c. The cost of product in the U.S. is below that in the home market. d. The amount of profit was equal to 9 percent of the manufacturing cost plus general expenses.
A direct financing lease differs from a sales-type lease in that
A) the direct financing lease does not have a dealer profit, although it could have a dealer loss. B) the direct financing lease provisions do not include a bargain purchase option. C) the sales-type lease does not have unearned interest income at the inception of the lease. D) the direct financing lease does not have a dealer profit or loss.
Yvonne finds a carpenter to do some repairs for her house and tells him that if he finishes the job by Saturday, she will pay him $1,000. Yvonne's offer creates a(n) ________ contract.
A. executed B. unilateral C. executory D. bilateral
If I is the input rate and O is the output rate, what happens when I > O?
a. WIP decreases b. WIP increases c. WIP remains constant d. I and O are not related to the WIP