Sales Allowances and Sales Discounts

question 32

Multiple Choice

Sales Allowances and Sales Discounts

• A) are both designed to encourage customers to pay their accounts promptly.
• B) are both contra revenue accounts to Sales.
• C) both have a normal credit balance.
• D) both have a normal debit balance and are therefore regarded as expense accounts.

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Definitions:

Political Organization

The way in which a society creates and applies laws and policies through structures, institutions, and processes.

Band

A small, nomadic, and kinship-based group of people who subsist primarily through hunting, gathering, or fishing.

States

Politically defined territories that have organized governments, populations, and sovereignty over the land.

Political Organization

The way in which a society creates and structures its political institutions, processes, and relationships to make collective decisions and govern behavior.