is dated on September 15 with terms of 1/15, net 45. If Zea Co. chooses not to the discount, by when should the payment be made? September 3o October 30 7. a. b. C. October 15 d. September 25 recorded on the sel
is dated on September 15 with terms of 1/15, net 45. If Zea Co. chooses not to the discount, by when should the payment be made? September 3o October 30 7. a. b. C. October 15 d. September 25 recorded on the sel
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Multiple choice
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d.
P80, September 25
7.
Apple Co sells merchandise on credit to Zea Co in the amount of P8,000. The i
is dated on September 15 with terms of 1/15, net 45. If Zea Co. chooses not se
the discount, by when should the payment be made?
September 3o
b.
a.
d.
October 30
13.
to the bu
If title to
с.
d.
October 15
cor
September 25
n/
b.
Discounts taken by a buyer because of early payment are recorded on the seller,
a.
8.
C.
accounting records as
d.
a.
Purchases discount
14. Ac
a.
b.
Sales discount
C.
Trade discount
d. Early payment discount
9. Who should pay the freight costs when the terms are FOB shipping point?
a. the ultimate customer
b. the buyer
c. the seller
d. either the seller or the buyer
hould pthe freisht.co the terms are FOB destination?
the seller
the buyer"
Transcribed Image Text:C.
d.
P80, September 25
7.
Apple Co sells merchandise on credit to Zea Co in the amount of P8,000. The i
is dated on September 15 with terms of 1/15, net 45. If Zea Co. chooses not se
the discount, by when should the payment be made?
September 3o
b.
a.
d.
October 30
13.
to the bu
If title to
с.
d.
October 15
cor
September 25
n/
b.
Discounts taken by a buyer because of early payment are recorded on the seller,
a.
8.
C.
accounting records as
d.
a.
Purchases discount
14. Ac
a.
b.
Sales discount
C.
Trade discount
d. Early payment discount
9. Who should pay the freight costs when the terms are FOB shipping point?
a. the ultimate customer
b. the buyer
c. the seller
d. either the seller or the buyer
hould pthe freisht.co the terms are FOB destination?
the seller
the buyer
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