One major cost of selling goods on account could be a.uncollectible accounts. b.cash shortages. c.easy credit....
One major cost of selling goods on account could be
a.uncollectible accounts.
b.cash shortages.
c.easy credit.
d.accounts payable.
Homework Answers
a)uncollectiable accounts are major cost of selling goods on account.
NOTE:
1) Accounts uncollectible are receivables that have virtually no chance of being paid. An account may become uncollectible for many reasons, including the debtor's bankruptcy, an inability to find the debtor, fraud on the part of the debtor, or lack of proper documentation to prove that debt exists
2)If the cash in the register is less than the sales there is said to be a cash shortage.
3)Easy credit is Increased supply of money into the banking system making it easily available for public lending with lower interest rate.
4)Account payable money owed by a company to its creditors when it takes goods or services on credit basis
.
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One major cost of selling goods on account could be
a.uncollectible accounts.
b.cash shortages.
c.easy credit....
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