Gross Billings for Merchandise Sold by Lang Company to Its

question 107

Multiple Choice

Gross billings for merchandise sold by Lang Company to its customers last year amounted to $11,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were

• A) $11,720,000.
• B) $11,350,000.
• C) $11,175,000.
• D) $11,035,000.

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Definitions:

Available Teller

Refers to a bank employee who is present and able to assist customers with transactions and inquiries.

Single-Phase System

An electrical power system that uses a single alternating current (AC) voltage cycle for transmission and distribution.

Single Channel System

A type of service or queue system where there is only one point or line for service, handling one customer at a time.

Utilization Factor

A metric that quantifies the degree to which a resource (e.g., equipment, workforce) is being used compared to its full capacity over a specific period.