Many businesses find it more efficient to offer credit directly to customers rather than to accept third-party credit cards.
Answer the following statement true (T) or false (F)
False
Maintaining accounts and notes receivable is expensive. In addition to uncollectible accounts expense, companies extending credit to their customers incur considerable costs for such clerical tasks as running background checks and maintaining customer records. On the other hand, the credit card company deducts a service fee (usually between 1% and 5%) from the gross amount of the sale and pays the merchant the net balance (gross amount of sale less credit card fee) in cash. However, in return, the merchant avoids the risk of uncollectible accounts, as well as the cost of maintaining customer credit records. Many businesses find it more efficient to accept third-party credit cards instead of offering credit directly to their customers.
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In the United States, job growth currently is the weakest for ________
A) white collar workers B) manufacturing workers C) salespeople D) telecommuters E) professional workers
Since audits are paid for by audited clients, there is an inherent conflict found in that financial arrangement.
Answer the following statement true (T) or false (F)
Receiving payments on an account receivable increases both equity and assets
Indicate whether the statement is true or false
Which of the following arguments has been made by legal scholars when criticizing the positivist school of law?
A) It is impossible to remain positive about everything when there is so much negativity in the world. B) The positivist school is irrational and not founded in logic. C) The positivist school ignores the importance of precedence. D) The positivist school adopts a view that is too narrow and literal-minded.