Jeremy Is Studying for His Final Exam

question 108

Multiple Choice

Jeremy is studying for his final exam.Lauren has taken psychology and gives him a good tip about the best way to study.She correctly says,

• A) "Be sure to cram in your studying during the night before the final exam."
• B) "As you study,connect the information to something personal."
• C) "Memorize bold terms by writing and rewriting the definitions."
• D) "Study in the morning right before the exam deadline,because stress improves learning."

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Definitions:

Sales Return

goods returned by the customers to the seller after the sale, reducing the gross sales figure.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Net Sales

The revenue a company earns from sales after subtracting returns, allowances for damaged or missing products, and discounts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that is expected to be uncollectible.