Which of the Following Represent Foreign Buyers in a Domestic

question 17

Multiple Choice

Which of the following represent foreign buyers in a domestic market and act as purchasing agents for foreign companies?

• A) Export commission houses
• B) Resident buyers
• C) Brokers
• D) Direct merchant intermediaries
• E) Resident brokers

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to the inventory accounts are made on a periodic basis, rather than continuously.

Merchandise Inventory

Items that a company holds for the purpose of resale to customers in the ordinary course of business.

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.