Hydro

question 12

Multiple Choice

Hydro

• A)Fancy name for fire plug
• B)Island in the Pacific
• C)Greek word for water
• D)Technical term for hoist

---

Definitions:

Periodic Inventory System

An inventory accounting method where updates to inventory levels are made periodically, often at the end of a financial period.

Purchase Returns and Allowances

Transactions where buyers return goods or are granted reductions in the initial selling price due to defects or other issues.

Purchase Discounts

Purchase discounts are reductions in the price paid for merchandise or services due to early payment by the buyer.

Freight-In

Refers to the transportation cost associated with getting goods from the manufacturer to the place of production or sales.