Debit Card Payments in a Sales Invoice with Regular Terms

question 21

Multiple Choice

Debit card payments in a sales invoice with regular terms of net 30 will -

• A) debit the bank account instead of accounts receivable for the full invoice amount
• B) credit the bank account instead of accounts receivable for the full invoice amount
• C) reduce the bank deposit by the amount of the card transaction fees
• D) withdraw the full invoice amount from the customer's bank account in 30 days when the net amount is due

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Definitions:

Quotas

Limits or targets set on quantities, such as the maximum amount of goods that can be imported or the sales targets for individuals or teams.

Foreign Competition

Refers to the competitive pressure that domestic companies face from foreign companies in the same industry, impacting market share, pricing, and innovation strategies.

Tariffs

Taxes imposed on imported goods, often used to protect domestic industries or generate revenue.

Imported Goods

Products brought into one country from another for the purpose of sale or trade.