Which of the Following Is the BEST Example of a Convenience

question 236

Multiple Choice

Which of the following is the BEST example of a convenience product?

• A)Kindle Fire
• B)Lexus LS 460 luxury automobile
• C)flight on United Airlines
• D)Roget's Thesaurus
• E)Crest toothpaste

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Definitions:

Voucher Payment

A method of paying bills where a record is kept of all invoices and payments.

Discount Lost

The additional expense a company incurs when it fails to take advantage of the payment terms offered by suppliers, like missing early payment discounts.

Gross Method

Accounting treatment for purchase discounts where discounts are not considered until actually taken.

Note Payable

A promissory note from the maker’s point of view.