On January 21,2014,Bessant Inc

question 63

Multiple Choice

On January 21,2014,Bessant Inc.received merchandise from Mullies Inc.On that date,it found a few of these goods to be damaged.On January 22,it returned the damaged goods to the seller.Such returns will be treated as ________ by Bessant.

• A)purchase returns
• B)sales returns
• C)purchase allowances
• D)sales allowances

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Definitions:

High-End

Products or services that are considered to be of the highest quality and often carry a premium price.

Comparative Advantage

The ability of a country to produce a specific good or service at a lower opportunity cost than a rival.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Rival Nation

A country that competes with another, often in economic, military, or technological aspects.