Sellers Allow Customers to Use Bank (Or Third-Party)credit Cards for All

question 10

Multiple Choice

Sellers allow customers to use bank (or third-party) credit cards for all of the following reasons except:

• A)To be able to charge more due to fees and interest.
• B)To avoid the risk of customers not paying.
• C)To speed up receipt of cash from the credit sale.
• D)To increase total sales.
• E)To avoid having to decide who gets credit and how much.

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Definitions:

Ending Accounts Receivable

The amount owed to a company by its customers for goods or services delivered but not yet paid for at the end of an accounting period.

Net Sales

Net sales represent the total revenue from sales transactions after deducting returns, allowances for damaged or missing goods, and discounts.

Internal Document

A type of document used within an organization for communication, record-keeping, or operational purposes, not intended for external distribution.

Voucher

A document that serves as evidence of a transaction and authorizes the payment or receipt of money.