Match the Term to the Appropriate Definition

question 130

Multiple Choice

Match the term to the appropriate definition.There are more definitions than terms.
-Merchandising Company

• A)The sum of beginning inventory and purchases for the period.
• B)Presents important subtotals,such as gross profit,to help distinguish core operating results from other,less significant items that affect net income.
• C)A term of sale indicating that goods are owned by the seller until they are delivered to the buyer.
• D)Sells goods that have been obtained from a supplier.
• E)Inventory records are updated every time inventory is bought,sold,or returned.
• F)A sales price reduction given to customers for prompt payment of their account balance.
• G)Inventory records are updated at the end of the accounting period.To determine how much merchandise has been sold,inventory must be physically counted at the end of the period.
• H)A term of sale indicating that goods are owned by the buyer the moment they leave the seller's premises.
• I)Sells services rather than physical goods.
• J)Assets acquired for resale to customers.

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Definitions:

Active Listening

The technique of listening attentively with all senses, as a way of understanding, interpreting, and evaluating what one is hearing.

Supportive Listening

The practice of actively listening to someone with the intention of providing emotional support and understanding.

Retentive Listening

Retentive listening involves carefully listening to and remembering information, often used in learning and communication situations to retain details.

Legal Proceedings

Legal proceedings refer to the process of taking legal action in a court of law.