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quiz2.docx - T / F When companies offer trade discounts ...

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(T / F) When companies offer trade discounts, the gross selling price (gross invoice price) atwhich the sale is recorded is equal to the list price minus any trade discounts.Select one:TrueFalseFeedbackThe correct answer is 'True'.
Question2CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Sales discounts arise when the seller offers the buyer a cash discount of 1 percent to 3percent to induce early payment of an amount due.Select one:
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Question3CorrectMark 1.00 out of 1.00Flag question
Question text(T / F) Cost of goods sold = Beginning inventory + Net cost of purchases − Ending inventory.Select one:
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Question4CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Beginning inventory + Net cost of purchases = Cost of goods available for sale.Select one:
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