Perform the Indicated Calculations, and Reduce Fractions to the Lowest

question 6

Short Answer

Perform the indicated calculations, and reduce fractions to the lowest terms.
-11/12 - 1/2 = ____________________

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Definitions:

Credit Sales

Credit Sales are transactions where the purchaser buys goods or services but the payment to the seller is delayed according to agreed terms, rather than paid in full at the time of sale.

Uncollectible

Refers to accounts receivable that a company deems unlikely to be collected and is therefore written off as a bad debt expense.

Merchandise Purchases Budget

A financial plan that estimates the cost of goods that a retail company plans to purchase during a certain period to meet its sales goals.

Second Quarter

Refers to the second division of a fiscal year, often comprising months April, May, and June, used for reporting and planning in businesses.