Question

* Inventory Turnover And Days' sa M Hộp thu đen (342) - thanhphuon x Q Accounting Final Part 2: true or fix face now.com/ilm/takeAssignment/takeAssignment Main.doFinvokersassignments&take AssignmentSessionLocator assignment-take&tin Calculator Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing Match each of the following terms with the correct definition below. Clear All FOB destination Shipping terms where the Ownership of merchandise passes to the buyer when the buyer receives the merchandise. Credit terme Payment arrangements determined by the seller as to when invoices are due and whether early payment discount is offered. Single-step income statement Losses of inventory due to theft, damage, spolage, etc. that cause the actual inventory on hand to be less than that on record Inventory shrinkage Statement where net income is determined by deducting all expenses from all revenues All work saved.

Answer 1

1. FOB destination: Shipping terms where the ownership of merchandise passes to the buyer wen the buyer receives the merchamdise.

2. Credit terms: Payment arrangements determined by the seller as to when invoices are due and whether early payment is offered.

3. Single step income statement: Statement where net income is determined by deducting all expenses from all revenues.

4. Inventory shrinkage: Losses of inventory due to theft, damage, spoilage etc that cause the actual inventory on hand the be less than that on record.