Match the Term and the Definition

question 27

Essay

Match the term and the definition.There are more definitions than terms.
_____ outstanding cheque
_____ sales returns and allowances
_____ discount period
_____ net sales
_____ purchase returns and allowances
_____ NSF cheque
_____ maximum credit period
_____ credit card discount
_____ gross profit margin
A.When a company accepts goods back from customers.
B.When companies reduce price for a sale and then raise it back again.
C.Net income divided by gross profit.
D.A reduction in price that is given to purchasers who use credit cards.
E.All the cost of goods bought by a company minus purchase returns and discounts.
F.Gross profit divided by total assets.
G.If companies take this long to pay suppliers they must pay a late penalty.
H.A reduction in sales revenue that occurs when companies accept credit cards.
I.The longest amount of time a company has to pay a supplier the undiscounted amount owed.
J.When a cheque has been written but has not yet been recorded by the cheque writer's bank.
K.Sales revenue minus all sales discounts,credit card discounts,and sales returns and allowances.
L.The length of time a company has to pay a supplier and still receive an early payment discount.
M.Gross profit divided by net sales revenue.
N.When a cheque has been written on an account that does not have enough money to cover it.
O.When companies send goods back to suppliers.
P.Sales revenue minus all expenses.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a particular price.

Chocolate

A sweet, typically brown food preparation of Theobroma cacao seeds, roasted and ground, often flavored, as with vanilla, and used as a confection or as a flavoring ingredient.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of demand to price changes.

Linear

Pertaining to a relationship or an equation that can be represented by a straight line in a graphical representation, illustrating a constant rate of change.