Indicate Whether Each of the Following Statements Is True or False

question 80

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)A cash discount is extended to reward the buyer for purchasing large quantities of goods.
_____ b)A purchase discount refers to a cash discount as seen from the seller's viewpoint.
_____ c)A sales discount refers to a cash discount as seen from the buyer's view.
_____ d)In a perpetual inventory system,a sales discount is recorded as a reduction of sales revenue.
_____ e)In a perpetual inventory system,a purchase discount is recorded as a reduction of merchandise inventory.

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Definitions:

Cover Letter

A document sent along with a resume when applying for a job, providing additional information on the applicant’s skills, experience, and fit for the position.

Long Proposals

Comprehensive and detailed plans or suggestions put forward for consideration or discussion.

Feasibility

An assessment or evaluation of how practical, viable, or possible a proposed project, plan, or idea is, considering various factors such as costs, resources, and timeframe.

Justification

The alignment of text within a document or presentation, which can be aligned to the left, right, center, or justified, which evenly distributes space between words.