Which of the Following Items Is Subtracted from Sales to Arrive

question 51

Multiple Choice

Which of the following items is subtracted from sales to arrive at net sales?

• A) Desired sales
• B) Sales commission
• C) Customer refunds and allowances
• D) Cost of after sales services

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Definitions:

FTC Rule 433

Known as the Holder in Due Course Rule, it protects consumers by allowing them to make claims directly against creditors in certain credit transactions.

HDC Doctrine

Refers to the Holder in Due Course doctrine, which provides protections to purchasers of negotiable instruments who take them in good faith, for value, and without notice of certain defects.

Consumer Transactions

The purchase and sale of goods or services between a buyer, typically an individual or household, and a seller for personal use.

Consideration

In contract law, it refers to something of value exchanged by the parties involved that induces them to enter into the agreement.