INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 47

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
The [ Fisher equation  | rule of 72 ] is a useful formula for estimating about how long it will take to double a sum at a given interest rate.

---

Definitions:

Freight-In

The cost associated with transporting goods into a warehouse or business, typically included in the cost of goods sold (COGS).

Beginning Inventory

refers to the value of inventory on hand at the start of an accounting period.

Purchase Discounts

Reductions in price given by a supplier to a buyer for prompt payment of their invoice.

Unearned Revenue

Money received by a business for goods or services yet to be delivered or performed; it is recorded as a liability on the balance sheet.