If Consumers Receive Merchandise That They Did Not Order:​

question 50

Multiple Choice

If consumers receive merchandise that they did not order:​

• A)They must pay for the merchandise within three days.
• B)They must return the goods but are not liable for shipping costs.
• C)They must return the goods and pay for return shipping if a return label was not included.
• D)They may treat the merchandise as a gift and not pay for it or return it.

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered on credit.

Notes Payable

Written agreements in which one party agrees to pay another party a certain sum of money at a future date or on demand.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Capital

Financial assets or the resources that businesses use to fund their operations and growth, including cash, properties, and equipment.