Match the Following Terms with Their Definitions

question 90

Multiple Choice

Match the following terms with their definitions.
-Terms of sale

• A)Criteria on invoice
• B)Seller pays cost of freight
• C)Could be calculated by table look-up
• D)Savings from early payment
• E)Cash discount within first 10 days in next month after sale
• F)Amount of time to take advantage of a cash discount
• G)Discount period begins when goods are received
• H)100% less stated percent
• I)List price minus amount of trade discount
• J)Time period sellers give buyers to pay invoices
• K)1 - net price equivalent rate
• L)Buyer pays cost of freight
• M)Actual cost to buyer per dollar
• N)2/10, n/30
• O)Two or more trade discounts
• P)List price minus net price
• Q)Suggested retail price

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Definitions:

Operating Segments

Components of an enterprise that engage in business activities from which they may earn revenues and incur expenses, including revenues and expenses related to transactions with other components of the same enterprise.

Similar Economic Characteristics

A term used in financial analysis and consolidation to refer to entities or segments within enterprises that share similar economic environments, risks, and returns.

Combined

In financial terms, refers to the aggregation of financial data from several departments or business entities within a corporation to provide a complete financial profile.

Financial Statement Presentation

The method by which a company's financial data is arranged and reported to external parties, typically including balance sheets, income statements, and cash flow statements.