A Teacher Who Works with Students with Mild Intellectual Disabilities

question 97

Short Answer

A teacher who works with students with mild intellectual disabilities would like to assess the students' ability to return the correct amount of change when given a $10.00 bill to pay for an item that costs $2.85. How might the teacher decide to assess this skill?

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Definitions:

Gross Method

An accounting practice where discounts for early payment are not considered until they are actually taken by the purchaser.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, including the repayment period, interest rate, and penalties for late payment.

Discounts Lost

Refers to the financial opportunity lost by not taking advantage of discounts offered by suppliers for early payments.

Net Method

An accounting practice where purchases are recorded at their net cost, taking into account any discounts offered for early payment.