Choose the Appropriate Letter to Match the Term and the Definition.There

question 150

Essay

Choose the appropriate letter to match the term and the definition.There are more definitions than terms.
Term
1.____ FOB Destination
2.____ FOB Shipping Point
3.____ Merchandising Company
4.____ Periodic Inventory System
5.____ Perpetual Inventory System
6.____ Service Company
Definition
A.Sells services rather than physical goods.
B.Assets acquired for resale to customers.
C.Inventory records are updated every time inventory is bought,sold,or returned.
D.A term of sale indicating that goods are owned by the seller until they are delivered to the buyer.
E.Sells goods that have been obtained from a supplier.
F.The sum of beginning inventory and purchases for the period.
G.Inventory records are updated at the end of the accounting period.To determine how much merchandise has been sold,periodic systems require that inventory 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.A sales price reduction given to customers for prompt payment of their account balance.
J.Presents important subtotals,such as gross profit,to help distinguish core operating results from other,less significant items that affect net income.

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Definitions:

Eighteenth-Century Diplomacy

Refers to the conduct of international relations and negotiation tactics among European powers in the 18th century.

Bill of Rights 1689

A historic English document that laid down limits on the powers of the crown and established the rights of Parliament and rules for freedom of speech.

British Parliament

The supreme legislative body in the United Kingdom, composed of two houses: the House of Commons and the House of Lords, responsible for making laws and overseeing the government.

Monarch

A sovereign head of state, especially one who inherits the position by right of birth, ruling a monarchy.