Sales Returns and Allowances have the effect of
A. increasing total revenue.
B. decreasing total revenue.
C. increasing expenses.
D. increasing assets.
Answer: B
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Which of the following companies whose business involves long-term contracts will be eligible to use the completed contract method?
A. A small specialized historic renovation company whose projects typically last three years. Revenues average $20 million per year. B. only companies whose contract price is collected upon completion of the contract C. a home construction company averaging $30 million in gross revenues each year D. all of the above
Projected sales price minus a reasonable profit equals
a. the standard cost. b. contribution margin. c. projected Cost of Goods Sold. d. target cost.
Ola Jensen has placed her first order with your company. What is the BEST method to let her know you received her order?
a. Send her a preprinted form letter acknowledging the order. b. Send her a copy of the sales order. c. Send her sales promotional material. d. Send her an individualized acknowledgment message about her order.
Answer the following statement(s) true (T) or false (F)
1. The SBA often guarantees long-term debt financing from a bank for a new business. 2. Most long-term loan agreements act as a promissory note and require some form of collateral. 3. Stocks and bonds are forms of long-term equity financing. 4. The details of a bond agreement (maturity date and rate of interest) are spelled out in agreements called a debenture. 5. Generally, the lower the quality of the bond, the higher the interest rate paid to bondholders.