This Program Was Developed by _____ Whereby It Has Lowered

question 32

Multiple Choice

This program was developed by _____ whereby it has lowered the wholesale list price of many of its products while cutting promotional allowances to the trade and is known as _____.

• A)Procter & Gamble;forward buying
• B)General Foods;diverting
• C)Procter & Gamble;everyday low pricing
• D)PepsiCo;slotting
• E)Tropicana;one price dealing

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Definitions:

Gross Method

An accounting approach for recording purchases at the invoice price without deduction of any cash discounts offered.

Perpetual Inventory System

A strategy for managing inventory accounting that utilizes computerized point-of-sale systems and enterprise asset management software to immediately document sales or purchases.

Accounts Payable

Obligations a business has to its creditors, arising from the purchase of goods and services on credit.

Perpetual Inventory System

A system for accounting inventory that instantly captures the transactions of buying or selling via computerized point-of-sale systems and software for enterprise asset management.