If a Customer Has a Balance for an Amount Owed

question 19

Multiple Choice

If a customer has a balance for an amount owed and a return is made, a credit memo is prepared and______ .

• A)a refund check is issued
• B)the amount of the return may be applied to the invoice for the original sale
• C)the customer determines whether to apply the amount to the invoice for the sale or get a refund check
• D)any of the above

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Definitions:

Forced Labor

Work that is performed involuntarily and under the menace of any penalty.

Colonial and European Merchants

Refers to traders and business people from Europe and the colonial Americas involved in the exchange of goods, such as textiles, spices, and slaves, between the 16th and 19th centuries.

Trade Profits

Financial gains derived from the act of buying and selling goods, services, or assets between different parties, domestically or internationally.

Indentured Servants

Laborers bound under contract to work for a specific period of time in exchange for transportation, food, clothing, lodging, and other necessities during the 17th and 18th centuries in America.