When a Customer Purchases Goods or Services but Does Not

question 23

Multiple Choice

When a customer purchases goods or services but does not pay at the point of sale,what do you record?

• A)An invoice
• B)A purchase order
• C)A reminder
• D)None of the choices are correct

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Definitions:

Net Markups

This term refers to the difference between the cost of a product and its selling price, minus any discounts or allowances.

Net Markdowns

The reduction in the selling price of goods, subtracted from the original or previous selling price, often to clear surplus inventory.