A Company Records the Following Journal Entry: Debit Cash $1,470

question 77

Multiple Choice

A company records the following journal entry: debit Cash $1,470, debit Sales Discounts $30, and credit Accounts Receivable $1,500. This means that the customer has taken what percentage cash discount for early payment?

• A)1%
• B)2%
• C)5%
• D)10%
• E)15%

Comprehend the necessity of appropriate emotional and intellectual preparation before presentations.

Understand various modes of presentation delivery and their effectiveness.

Recognize the importance of audience engagement through backchannel and establishing expectations.

Differentiate between visuals for presentations and printed documents.

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Definitions:

Responsibility Centre

A unit within an organization under the management's control, accountable for specific activities and associated costs, revenues, or investments.

Investment Centre

A business unit or segment which is responsible for its own revenues, expenses, and assets, and whose performance is measured by its return on investment.

Profit Centre

A profit centre is a distinct business unit or department within an organization that is responsible for generating its own revenue and managing its own costs to drive profitability.

Credit Sales

Sales made by a business where the amount is owed by the buyer for a period of time before payment is required.