Which options do you select on the Requisition Preferences page? (Choose two) Favorite charge accounts for billing purposes Preferred carrier for transporting goods Shipping and delivery preferences Role Confirm x

Q: General entry purchase return

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Which of the following indicates that ownership of the purchased items changes as soon as the goods…

A: FOB point is the term which is used to determine when the ownership of the goods changes hand. FOB…

Q: SLO-5.2. Using the term means that the buyer will pay the freight charges of the merchandise to the…

A: whenever the goods are purchased at the raw material for the production of goods are purchase there…

Q: 42. Sale of inventory on credit Debit Credit a. Cost of sales b. Cash Sales Accounts receivable c.…

A: >Sales of inventory can also be in cash or on account. Sales is a revenue element. If sales are…

Q: Define Sales discounts.

A: Merchandising businesses: Merchandising companies which buy goods from suppliers, or manufacturers,…

Q: How do you find the ending inventory?

A: Many companies earn revenue by selling inventory rather than a service. These companies are…

Q: Difference between sales receipts and invoices

A:

Q: What happens when merchandise is delivered FOB shipping point? Multiple Choice O O O O The buyer…

A: Ans. The buyer pays the freight cost

Q: How to find sales under LIFO

A: LIFO stands for last in first out. It represents that the units that are purchased last would be…

Q: . A journal designed for entering only sales on account is called the A. General journal B. Cash…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: How did you get the inventory carrying cost please?

A: Lets understand the basics. Economic order quantity is a quantity at which carrying cost and…

Q: If the sale includes the seller paying the freight costs and assuming the responsibility for…

A: FOB shipping point sale: When the goods are shipped to the buyer, the title is transferred to the…

Q: If title to merchandise purchases passes to the buyer when the goods are shipped from the seller,…

A: FOB means freight on board FOB shipping point means the buyer is the legal owner of the goods when…

Q: d. ayable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to…

A: Introduction to Merchandise  Merchandise is referred to as the inventory is a good or product that a…

Q: Mr. Taj want to sell goods at higher price in future , suggest him best method of purchasing :

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: Match the correct pairs FOB destination and you are the buyer FOB destination and you are the seller…

A: 1. FOB Destination and You are the BuyerExplanation:FOB Destination means the seller retains…

Q: Sales of pipes.

A: As per standard accounting practices , a revenue is recognised as and when it…

Q: estion will save this respo I using: cost of good available for cost of goods sold, sales

A: The right answer is option d Gross sales, Sales return &allowances, sales discount

Q: Match each item to a choice: Choices: Purchase discount Sales discount Buyer Seller

A: Invoice refers to a document issued by the trader displaying the addresses of the seller and buyer,…

Q: Who bears the freight when the terms of sale are (a) FOB shipping point, (b) FOB destination?

A: (a)If the sale is made with the terms FOB shipping point, the goods' ownership is transferred at the…

Q: The objective of is to encourage the buyer to purchase in large quantities and to increase the level…

A: The sellers of the goods adopt various techniques to encourage the buyers to acquire goods in large…

Q: View Policies Current Attempt in Progress Which costing method cannot be used to determine the cost…

A: As per accounting standard, cost of inventory should be calculated as lower of cost or net…

Q: Multiple Select Question Select all that apply Which of the costs below would be included in the…

A: Accounting standard says that inventory should be valued at  cost or market which every is…

Q: how to caculate desire ending inventory?

A: Inventory means Stock. Ending inventory, defined as the value of  inventory remaining at the end of…

Q: What is purpose of sales journals?

A: Sales journal: It is one form of special journal book, which records all the sales transactions that…

Q: Who owns the goods in transit under FOB destination? * buyer O seller O either buyer or seller none

A: In case of goods in transit under FOB  means  The seller will

Q: A vendor can have default accounts for Expense and HST set up in the vendor Options window. a) True…

A: A company must have all valid accounts related to the transactions so that all entries can be made…

Q: written statements with details of prices and terms of the offer for products

A: Option a is wrong because Purchase Returns Note is used to record the goods returned by the entity…

Q: 1. Explain overview of sales report. 2. Why sales report important. 3. Recommendation of sales…

A: Reporting is known as the important part of the company. The reporting could include overall…

Q: The authority to accept incoming goods in receiving should be based on a(an): Multiple Choice O…

A: An approved purchase order is a document issued by the buyer to the vendor, specifying the goods or…

Q: Explain the importance of proper credit approval for sales only typed solution

A: The credit approval for sales means sanctioning the credit limit and period for credit customers.…

Q: Which of the following two items are displayed in the QBO Navigation Bar?

A: Introduction:- QBO means QuickBooks Online. QBO Balance Sheet report gives you a financial snapshot…