An Approach That Involves Giving the Customer Free Samples of the Product

question 24

Multiple Choice

An approach that involves giving the customer free samples of the product is the:

• A)referral approach
• B)question approach
• C)product demonstration approach
• D)survey approach
• E)premium approach

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Definitions:

Terms 2/10, N/30

Payment terms indicating a 2% discount if the amount is paid within 10 days; otherwise, the net (full) amount is due within 30 days.

Perpetual Inventory Method

An accounting method that continuously tracks inventory levels and cost of goods sold, updating the accounts after each transaction.

General Journal Entry

A record in the general journal that represents a transaction and shows the accounts and amounts debited and credited.

F.O.B Shipping Point

F.O.B Shipping Point (Free on Board Shipping Point) is a shipping term indicating that the buyer assumes ownership and risk of the goods being shipped as soon as they leave the seller's premises.