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- 1. From pages 5-1 and 5-2 of the VLN, which statement is FALSE as it relates to a trade discount? Group of answer choices A. It is a concept. B. The company provides a good or service at a reduced price. C. A contra revenue is recognized at the time of sale. D. It causes the sale to be recognized at the reduced, agreed upon price.1. From pages 5-1 and 5-2 of the VLN, which statement is FALSE as it relates to a trade discount? Group of answer choices A. It is a concept. B. The company provides a good or service at a reduced price. C. A contra revenue is recognized at the time of sale. D. It causes the sale to be recognized at the reduced, agreed upon price. 2. From pages 5-1 and 5-2 of the VLN, which of the following is FALSE as it relates to a sales discount? Group of answer choices A. It is an incentive to credit customers (customers who purchased on account) to encourage them to pay their invoice early. B. It is always recorded at the time of the sale. C. It is a contra revenue. D. It only applies to credit customers (customers who purchased on account). 3. From page 5-2 of the VLN, which of the following accounts are subtracted from sales to compute Net sales? Allowance for uncollectible accounts Deferred revenue Sales discounts Sales returns and allowances Accumulated depreciation Trade discount…1. Which of the following terms apply when a retail store reduces the price of an item after there has been an additional markup? net additional markup. markup cancellation. markdown. net markdown.
- (b) What is the total profit per product using the selling prices determined in part (a)? Use negative signs with answers, i if appropriate. CDs $Answer? DVDs $Answer?K Which of the following is true of net sales revenue? OA It is calculated by adding sales discounts and sales retums and allowances to sales OB. It is calculated by deducting sales discounts and sales retums and allowances from sales OC. It is calculated by adding sales discounts to sales OD. It is calculated by subtracting cost of goods sold from sales MacBook ProWhich of the following choices correctly denotes factors that can influence a company's pricing practices for goods and services? Market Customer Conditions Costs Demand A. No Yes Yes B. No Yes No C. Yes Yes Yes D. Yes Yes No E. Yes No Yes Select one: a. Choice A b. Choice B C. Choice C Choice D Choice E d. e.
- Are net sales = Sales less?a. Sales returnsb. Sales discountsc. Sales returns & allowancesd. Sales returns & allowances and sales discountsWhat is customer value? Choose the correct. A. Ratio between the customer's perceived benefits and the resources used to obtained these benefits. B. Excess of satisfaction over expectation. C. Post purchase dissonance D. None of the above.EA3. LO 6.1 Match each of the following terms with the best corresponding definition. A. Sales allowance i. A customer returns merchandise for a full refund B. Purchase return ii. A retailer receives a partial refund but keeps the defective merchandise C. Sales discount iii. A customer receives a partial refund but keeps the defective merchandise D. Purchase discount iv. A customer pays their account in full within the discount window E. Sales return v. A type of purchase discount negotiated between a manufacturer and a retailer before settlement on a final price F. Trade discount vi. A retailer returns merchandise for a full refund G. Purchase allowance vii. A retailer pays their account in full within the discount window
- Value added tax is the tax that is realized at many points in the supply chain, right from the manufacturer to the retailer. Which of the following calculation is correct about Value Added? a. Selling price - Purchase price b. Selling price + Purchase price c. Purchase price Profit d. Selling price - Profit2. How would you expect the ratios to differ between a discount supermarket and luxury retailer?A. Discount supermarket would have a lower gross marginB. Discount supermarket would have a higher SGA marginC. Discount supermarket would have lower inventory turnoverD. Discount supermarket would have lower ROE3. If a retailer bought n numbers of goods at P price each, he sold each good at a rater marked up on the selling price. Describe how to find the selling price and the gross margin for each good. How is the gross margin used in sales? 1S 4. After learning the concept of mark up, how would you assess your market value in terms of abilities? What can you do to increase your market value?