Which One of the Following General Statements Is Correct -

question 13

Multiple Choice

Which one of the following general statements is correct -

• A) a sales discount is recorded as a negative amount in the receipts journal
• B) a sale return is recorded as a negative amount in the sales journal
• C) an advance from a customer is entered as a negative amount in the receipts journal
• D) all of the above statements are correct

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Definitions:

Revenue Model

The strategy or method a business uses to generate income or revenue, detailing the sources of revenue, pricing methodologies, and target consumer segments.

Create

To bring something into existence; to generate or produce an idea, product, or solution.

Razor-And-Razor-Blade

A business model where a company sells a durable product at a low price (razor) and then sells consumable products that are needed to use the initial product (razor blades) at a higher margin.

Printer-And-Ink

A common business model in the printing industry where printers are sold at a low cost and the recurring revenue is generated through the sales of ink cartridges.