Match the Terms with the Definitions

question 39

Multiple Choice

Match the terms with the definitions.
-Purchases merchandise such as clothing, furniture, or computers, and sells that merchandise to its customers.

• A)accounts receivable ledger
• B)cash discounts
• C)controlling account
• D)credit memo
• E)merchandising business
• F)sale
• G)sales allowances
• H)sales discounts
• I)sales invoice
• J)sales return
• K)sales ticket
• L)schedule of accounts receivable

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Definitions:

Fixed Cost

Costs that remain constant in total despite changes in the levels of production or output within a certain range.

Variable Cost

Expenses that vary directly with the level of production or sales volume.

Least-Squares Regression

An analytical technique that identifies the most suitable line by minimizing the sum of the squares of the gaps between the observed and estimated values.

Variable Cost

A cost that changes in proportion to the level of activity or volume of goods produced.