A Letter Should Be Inserted into an Envelope So the Upper

question 21

Multiple Choice

A letter should be inserted into an envelope so the upper third of the letter is facing the reader when the reader removes it. In addition, the date and inside address are to be visible when the letter is removed.

• A) The first statement is true and the second statement is false.
• B) The first statement is false and the second statement is true.
• C) Both statements are true.
• D) Both statements are false.

Identify and describe the system used to record transactions related to purchases, returns, and discounts.

Understand the process and importance of preparing documentation for sales returns and allowances.

Distinguish between FOB shipping point and FOB destination, including the implications for shipping costs and risk.

Recognize the benefits of offering sales discounts to accelerate cash receipts.