SURVEY OF ACCOUNTING-ACCESS
SURVEY OF ACCOUNTING-ACCESS
4th Edition
ISBN: 9780077631536
Author: Thomas Edmonds
Publisher: McGraw-Hill Education
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Chapter 3, Problem 14Q

14. Dyer Department Store purchased goods with the terms 2/10, n/30. What do these terms mean?

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8.When a product is sold on credit, which account should be debited for the seller? A.cash B.Inventory C.A/P D.A/R
41) n a merchandising sales transaction, the seller sells a product and transfers the ____________ of the goods to the buyer. a. Money b. Ownership c. Document d. None
9. Which of the following is the correct computation for the cost of goods available for sale? a.Net Sales - Cost of Goods Sold b. Sales - Cost of Goods Sold c. Beginning Inventory + Net Purchases d. Net Purchases - Ending Inventory 10. This refers to the shipping cost necessary to bring inventory purchased from the seller to the premises of the company. a. Freight - In b. Freight - Out c. Delivery Expenses d. Travelling Expenses

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SURVEY OF ACCOUNTING-ACCESS

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