Match the Terms Below with the Correct Definitions

question 86

Multiple Choice

Match the terms below with the correct definitions.
-Account used to record the reduction in sales due to either the physical return of goods or defective goods

• A)FOB destination
• B)Sales Returns and Allowances
• C)Controlling account
• D)Accounts receivable ledger
• E)Subsidiary ledger
• F)Purchases journal
• G)Sales invoice
• H)FOB shipping point
• I)General journal

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Definitions:

Impressment

The act of forcibly taking men into a navy or military service without notice, often practiced by the British Navy against American sailors in the early 19th century.

Macon's Bill Number 2

Legislation passed by the United States Congress in 1810, aimed at motivating Great Britain and France to stop seizing American ships during the Napoleonic Wars by restoring trade with the country that ceased its attacks on American shipping.

Commercial Rights

The legal rights granted to businesses and individuals to engage in activities related to commerce, trade, and intellectual property.

Embargo Act

A historical law passed by the United States in 1807, prohibiting American ships from trading in all foreign ports to avoid conflicts.