3. It refers to the number of days from date of purchase that the supplier has given the busıness to pay its account. 4. It is the cost associated with transporting goods from seller's to buyer's place of business. 5. It is the business document issued by the buyer whenever there are returns and allowances.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Number 3 4 and 5 please

 

III. IDENTIFICATION
Directions: Identify the term/s being described.
1. It is the inventory system most applicable to sari-sari stores.
2 It is the business document commonly used as the basis of recording in the cash receipts journal.
3. It refers to the number of days from date of purchase that the supplier has given the business to pay its
account.
4. It is the cost associated with transporting goods from seller's to buyer's place of business.
5. It is the business document issued by the buyer whenever there are returns and allowances.
Transcribed Image Text:III. IDENTIFICATION Directions: Identify the term/s being described. 1. It is the inventory system most applicable to sari-sari stores. 2 It is the business document commonly used as the basis of recording in the cash receipts journal. 3. It refers to the number of days from date of purchase that the supplier has given the business to pay its account. 4. It is the cost associated with transporting goods from seller's to buyer's place of business. 5. It is the business document issued by the buyer whenever there are returns and allowances.
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