Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. The seller paid freight costs of $2,000 and issued a credit memo for $10,000 prior to payment. What is the amount of the cash discount allowable?
A) $170
B) $150
C) $130
D) $250
B
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When a corporation owns more than 50 percent of the voting stock in another corporation, it usually should report its investment by using (the)
a. equity method. b. cost adjusted to market method. c. book value method. d. consolidated financial statements.
A disadvantage of the formula sales presentation is that its format often prevents information from being logically presented.
Answer the following statement true (T) or false (F)
Underapplied overhead resulting from unanticipated and immaterial price increases for overhead items should be written off by
a. decreasing Cost of Goods Sold. b. increasing Cost of Goods Sold. c. decreasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory. d. increasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory.
_________________ is a type of program designed to raise awareness of group dynamics and any existing prejudices towards others.
a. Intergroup development b. Sensitivity training c. Quality of worklife d. Process consultation