Upon Notification from the Receiving Department That the Goods Have

question 84

Multiple Choice

Upon notification from the receiving department that the goods have been returned,the manager issues a(n) ________ ,which authorizes the adjustment of the customer's account.

• A)debt memo
• B)credit memo
• C)adjusting entry
• D)bill of lading

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Definitions:

Retained Use

The continued use of an asset by its owner instead of selling or replacing it.

Basic Earnings Per Share

A measure of a company's profitability, calculated by dividing net income by the average number of common shares outstanding during the period.

Income Available

The amount of net income left over for the company after it has paid out dividends to its shareholders.

Common Shareholders

Individuals or entities that own shares of a company's common stock, granting them rights to vote on corporate matters and receive dividends.