When Making Decisions ________

question 133

Multiple Choice

When making decisions ________.

• A) more weightage should be given to qualitative factors
• B) more weightage should be given to quantitative factors
• C) appropriate weight must be given to both quantitative and qualitative factors
• D) both quantitative and qualitative factors are unimportant

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Definitions:

Credit Memo

A document issued by a seller that reduces the amount owed by a buyer, typically due to a return or refund.

Cash Discount

A cash discount is a reduction in the price of goods or services allowed by the seller to encourage prompt payment by the buyer.

FOB Shipping Point

A term used in shipping agreements indicating that the buyer assumes responsibility and ownership of goods once they leave the seller's premises.

Perpetual Inventory System

An accounting method that continuously updates inventory records for every purchase and sale.