Although the Number of People Employed in Manufacturing in the United

question 20

True/False

Although the number of people employed in manufacturing in the United States has decreased since 1950,each person is now producing almost 20 times more than in 1950.

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Definitions:

Credit Sales

Sales made on credit where the payment is received after the service is delivered or the product is sold, thus creating receivables.

Credit Card Service Charge

Fees charged by credit card providers for processing transactions.

Allowance for Doubtful Accounts

An accounting method used to estimate the portion of a firm's receivables that it expects will not be collected.

Net Credit Sales

The total revenue from sales made on credit after deducting any returns or allowances, representing the true credit sales figure.