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Tangshan Mining Was Extended Credit Terms of 34/105 Net 30

question 12

Multiple Choice

Tangshan Mining was extended credit terms of 34/105 net 30 EOM.The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, is closest towould be ________.If the firm were able to stretch its accounts payable to 60 days without damaging its credit rating, the cost of giving up the cash discount would only be ________.

Understand the evolution of sociological terminology from "collective behavior" to "collective action" and its implications.

Recognize the role of political opportunities, resource mobilization, and social control in shaping collective action.

Analyze the impact of social and political environments on the probability and nature of protests and collective violence.

Understand the role of lynching in enforcing discipline among black farm workers post-slavery.

Definitions:

Ending Retained Earnings

This is the total amount of net income left over for a company after it has paid out dividends to its shareholders, shown at the end of a financial period.

Net Income

The earnings a company has left after subtracting all costs, taxes, and expenses from its overall revenue.

Adjusting Entry

A journal entry made at the end of an accounting period to record revenue or expenses in the period they occur rather than when cash is received or paid.

Unearned Subscription Revenue

Refers to the money received for services or products that have not yet been delivered or performed, often recognized as a liability on the balance sheet.