In a Firm That Uses Special Journals,the Acceptance of a Return

question 17

Multiple Choice

In a firm that uses special journals,the acceptance of a return of merchandise from a credit customer is recorded in the

• A) cash receipts journal.
• B) sales journal.
• C) cash payments journal.
• D) general journal.

Explain how changes in consumer tastes affect demand.

Describe how production costs influence supply.

Understand the impact of industry changes on supply.

Grasp the graphical representation of increases and decreases in supply and demand.

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Definitions:

Negotiation

The process by which parties come together to try to reach an agreement on a disputed or potentially disputed matter.

Endorsement

An act of giving one's public approval or support to someone or something, or a signature authorizing the legal transfer of a negotiable document.

Allonge

Accompanying a negotiable instrument, a piece of paper that provides room for an endorsement if no room is available on the negotiable instrument itself.

Endorse

To give support or approval to something or someone, often by writing a signature on a document to authorize its validity or transfer.