Use the Following Information for Questions

question 45

Multiple Choice

Use the following information for questions
Chi Co.records purchases at net amounts.On May 5 Chi purchased merchandise on account,
$8,000, terms 2/10, n/30.Pye returned $500 of the May 5 purchase and received credit on account.At May 31 the balance had not been paid.
-By how much should the account payable be adjusted on May 31?

• A)$0.
• B)$170.
• C)$160.
• D)$150.

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Definitions:

Self-expression-motivated

Driven by a desire to express individual identity and values through actions, choices, or the use of certain products and services.

Social

Relating to society or its organization; involving the collective aspects of people and their interactions.

Trend Adoption

The process by which individuals or groups start to use or mimic a new or popular behavior, style, or technology.

Psychographics

The study of personality, values, opinions, attitudes, interests, and lifestyles to analyze consumer behavior.