The ability to delay payment for different items from different vendors, up to an amount limit, during a period of time is called a. revolving credit. b. installment credit. c. a charge card. d. a credit card. e. a credit cycle.

The ability to delay payment for different items from different vendors, up to an amount limit, during a period of time is called a. revolving credit. b. installment credit. c. a charge card. d. a credit card. e. a credit cycle.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Q: The manager of the company told the employee to go out to the warehouse and count merchandise…

A: Inventory management is described as the process through which inventory of a company is sold, used,…

Q: Where there is a reversal of a previous inventory write-down, the entry would involve a debit to the…

A: A business can't try not to have supplied stock except if the organization utilizes the "In the nick…

Q: Given that: Sales = $300,000,000 Transportation cost = $15,000,000 Warehousing cost = $4,000,000…

A: Inventory carrying charge = 30% of average inventory = 30/100 x $15,000,000 = $4,500,000 Hence,…

Q: Inventory shrinkage is the difference between inventory in the warehouse and inventory counted. True…

A: Inventory serves as a linkage between the various stages of the supply chain, ensuring the…

Q: Explain the differences between “Medicare Levy” & “Medicare Levy Surcharge” can you put 3…

A: The Medicare levy surcharge is being levied on Australian taxpayers who don't used to have an…

Q: Which of the following is not a category of inventory? O A. Raw Materials B. Work-In-Process (WIP)…

A: Raw materials is an inventory that is used to create products as well as the commodities that have…

Q: The accountant for a community hospital is preparing the monthly bank reconciliation and notices…

A: The objective of the question is to understand the appropriate steps to be taken when a check has…

Q: Explain correct and incorrect option with explanation please.

A: Option a: This option is incorrect because prepaid expenses are those that are not yet incurred but…

Q: mplified the task of accounting for products before the time of production usage?

A: Inventories are a common feature in manufacturing processes. Materials management is a critical…

Q: Please select the item that is NOT a cost associated with inventory Holding or carrying costs…

A: Inventory refers to the items which are needed by the firm for production process such as raw…

Q: Why is handling a variety of perishable goods important in inventory management?

A: Perishable inventory is perhaps the trickiest kind of inventory to oversee. Since perishable things…

Q: Why is inventory management important to the efficiency of the purchasingfunction?

A: Inventory management is the process of ordering, storing and using inventory of the company such raw…

Q: During times of inflation, why does the value of inventory change between FIFO and LIFO evaluation?

A: FIFOFIFO implies first in is first out and hence what was purchased earlier gets sold (or moved out…

Q: What kind(s) of storage should be used to ensure long-term viability

A: Protecting your data against deterioration or other types of loss begins with selecting the…

Q: A company that manufactures cars would use about 50,000 steering wheels per year. Such steering…

A: EOQ is abbreviated as Economic Order Quantity. The ideal order quantity for a corporation is the one…

Q: Why would a "Just in Case" or traditional inventory management practices be preferred to a "Just in…

A: Traditional inventory management is used to solve through the forecasting technique and improving…

Q: Increasing payment terms from customers Increasing inventory safety stock Decreasing payment terms…

A: The time it takes for a business to convert its investments in inventory and other resources into…

Q: Dr. Wei and Dr. Tusang have a small optometry practice, and they have been in business for over 15…

A: You want to make sure you've done your homework before beginning a business, but you also recognize…

Q: Points that are paid to a mortgage originator as fee for their middleman service are called A.…

A: Mortgage origination is the method used to obtain a mortgage loan, and mortgage originators link…

Q: Poor inventory management increases operating costs and diminishes customer satisfaction.Discuss…

A: To discuss: The method that organization used to manage their inventory. Concept used: For the small…

Q: Which of the following accounts would be assigned a higher level of risk: Building or Merchandising…

A: Merchandise inventory is that the price of products handy and out there purchasable at any given…

Q: Explain the functioning of a barcode scanner and discuss its applications in retail and inventory…

A: A barcode scanner is a specialized tool that is essential to many sectors of the economy, including…

Q: When calculating the food (and beverage) cost percentage, a handheld device called a __________…

A: Inventory management is one of the process which helps the management of inventory by tracking…

Question

The ability to delay payment for different items from different vendors, up to an amount limit, during a period of time is called

	a.	revolving credit.
	b.	installment credit.
	c.	a charge card.
	d.	a credit card.
	e.	a credit cycle.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Ability to delay payment

VIEW

Step 2: Explanation to the incorrect options

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

What are some of the ways that inventory turnover will reveal valuable information about a company's productivity and efficiency?
in a small pharmacy how would you count that pharmacy's inventory?
The cash discount is 1. the most common industry discount 2. given to the special vendors 3. Is given when they purchase a large quantity 4. given when the delivery is accepted early
What are the two issues that inventory management tries to solve?
Why is the control of maintenance, repair, and operating inventory typically a difficult task for most companies?
Inventory accuracy is very critical to an organization. How does cycle counting improve inventory accuracy over the annual physical inventory?
The inventory system in which goods available for sale is updated on a continuous basis by computer is called a(n) _____ inventory system. merchandisebook periodicperpetual
The following two diagrams represent different inventory and cash payment policies. Please use whatever real-life business you believe is suitable to explain the differences between the two types of business models. Make sure you elaborate on each of the four cardinalities below.
What are some common concerns about the security of purchasing and inventory systems? Take into account not just what occurred but also the factors that led to it.
I don’t understand