Matching
Match the term and the definition.There are more definitions than terms.
Premises:
discount period
sales returns and allowances
gross profit margin
purchase returns and allowances
net sales
maximum credit period
Responses:
Sales revenue minus all sales discounts and sales returns and allowances.
When a cheque has been written but has not yet been recorded by the cheque writer's bank.
Sales revenue minus all expenses.
If companies take this long to pay suppliers they must pay a late penalty.
Net income divided by gross profit.
The length of time a company has to pay a supplier and still receive an early payment discount.
All the cost of goods bought by a company minus purchase returns and discounts.
Gross profit divided by net sales revenue.
The longest amount of time a company has to pay a supplier the undiscounted amount owed.
When companies reduce price for a sale and then raise it back again.
A reduction in sales revenue that occurs when companies accept credit cards.
When companies send goods back to suppliers.
When a company accepts goods back from customers.
A reduction in price that is given to purchasers who use credit cards.
Gross profit divided by total assets.
Correct Answer:
Premises:
Responses:
Sales revenue minus all sales discounts and sales returns and allowances.
When a cheque has been written but has not yet been recorded by the cheque writer's bank.
Sales revenue minus all expenses.
If companies take this long to pay suppliers they must pay a late penalty.
Net income divided by gross profit.
The length of time a company has to pay a supplier and still receive an early payment discount.
All the cost of goods bought by a company minus purchase returns and discounts.
Gross profit divided by net sales revenue.
The longest amount of time a company has to pay a supplier the undiscounted amount owed.
When companies reduce price for a sale and then raise it back again.
A reduction in sales revenue that occurs when companies accept credit cards.
When companies send goods back to suppliers.
When a company accepts goods back from customers.
A reduction in price that is given to purchasers who use credit cards.
Gross profit divided by total assets.
Premises:
Sales revenue minus all sales discounts and sales returns and allowances.
When a cheque has been written but has not yet been recorded by the cheque writer's bank.
Sales revenue minus all expenses.
If companies take this long to pay suppliers they must pay a late penalty.
Net income divided by gross profit.
The length of time a company has to pay a supplier and still receive an early payment discount.
All the cost of goods bought by a company minus purchase returns and discounts.
Gross profit divided by net sales revenue.
The longest amount of time a company has to pay a supplier the undiscounted amount owed.
When companies reduce price for a sale and then raise it back again.
A reduction in sales revenue that occurs when companies accept credit cards.
When companies send goods back to suppliers.
When a company accepts goods back from customers.
A reduction in price that is given to purchasers who use credit cards.
Gross profit divided by total assets.
Responses:
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