Fundamental, accountancy and business management 2

This are the deductions from the list price bye the seller to encourage the buyers to buy more.

What is the meaning of “MIL”

Returned by the buyer that is considered a cancellation of a sales, while the customer keeps merchandise dissatisfied

Sold merchandise ₱3000, terms 2/10, n/30. FOB shipping

When both purchase discounts, Purchase returns and Allowances are deducted from purchases is the result of ________

Terms of payment or also Known as credit term

This is the documents provides the details of business transactions.

This is incurs a charge of payment made for transporting goods

The list price of a product is subject to several trade discounts. This is related example of____5000-(0.2x500)=4000

Revenue is produced for the company. This revenue increases a revenue called sales.

This Is a lot of price less all trade discount

Expenses is not related to the acquisition and sale of the products or services regularly offered by people.

Net purchase = Purchases + ₱ ( ____-____)

Cost for managing a business as as whole. This are office salaries, rent, utilities on admin…..

An accurate merchandise inventory figures is needed to determine the cost of good sold

The sellers pays for goods until reach the destinationa, and seller retains ownership until buyer receives the goods

It is the business activity of buying and selling products rather than services.