If the terms specified on an invoice are 2/15, n/30, this means that a discount of 2% will be allowed if payment is made within 15 days from the date of the invoice
Indicate whether the statement is true or false
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The purpose of _____ is to pinpoint the people and organizations most likely to purchase what the organization sells and to promote the appropriate products and services to those people and organizations.
A. accounting B. e-commerce C. finance D. marketing
What social website is one of the easiest ways of connecting with people you don’t know?
a. Facebook b. LinkedIn c. Twitter d. Instagram
The sustainability damage from landfill additives comes in which form?
A) Potential energy lost B) Materials lost C) Terrible smell D) Both A and B
The Community Store reported the following amounts on their financial statements for Year 1, Year 2, and Year 3: ?For the year ended December 31?Year 1Year 2Year 3Cost of goods sold$75,000$87,000$77,000Net income22,00025,00021,000Total current assets155,000165,000110,000Equity287,000295,000304,000It was discovered early in Year 4 that the ending inventory on December 31, Year 1 was overstated by $6,000, and the ending inventory on December 31, Year 2 was understated by $2,500. The ending inventory on December 31, Year 3 was correct. Ignoring income taxes determine the correct amounts of cost of goods sold, net income, total current assets, and equity for each of the years Year 1, Year 2, and Year 3.
What will be an ideal response?