Wholesalers Sell to All of the Following Except

question 27

Multiple Choice

Wholesalers sell to all of the following except

• A) businesses.
• B) manufacturers.
• C) retailers.
• D) consumers.
• E) industrial users.

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Definitions:

FOB Shipping Point

This term indicates that the buyer is responsible for the goods and their shipping costs as soon as the goods leave the seller's premises.

Net Income

The total earnings of a company after all expenses and taxes have been subtracted from total revenue.

Ending Inventory

The closing stock value, determined at the end of a financial period, is the sum of the initial inventory and acquisitions, less the cost of goods sold.

Internal Control

Systems and processes designed by a company to ensure integrity and accuracy of financial and accounting information, promote accountability, and prevent fraud.