Merchandise Is Ordered on November 10; the Merchandise Is Shipped

question 13

Multiple Choice

Merchandise is ordered on November 10; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise is received by the buyer on November 18; the entry is made in the buyer's accounts on November 20. The credit period begins with what date?

• A) November 10
• B) November 13
• C) November 18
• D) November 20

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Definitions:

Cost

An amount that must be paid or spent to buy or obtain something, covering the consumption of resources such as time, labor, and materials.

Deal

A contractual agreement between two or more parties for the purpose of buying, selling, or exchange of goods, services, or any transaction leading to mutual benefits.

Benefit

An advantage or profit gained from something, including direct financial gains or more intangible positive outcomes.

Intrusion

An act of entering into a place or situation where one is unwelcome or not authorized.