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Home/My Courses/ ACCT701SUM192-STACKED-34631-SUMMER2019/ Module 2 | July 15 - 21/ Weekly Quiz 2Question Correctis recorded is equal to the list price minus any trade discounts.1Mark 1.00 out of1.00Question Correctinduce early payment of an amount due.2Mark 1.00 out of1.00Question CorrectSelect one:3Mark 1.00 out of1.00Started onFriday, July 19, 2019, 7:54 AMStateFinishedCompleted onFriday, July 19, 2019, 8:04 AMTime taken10 mins 4 secsMarks10.00/10.00Grade15.00out of 15.00 (100%)(T / F) When companies offer trade discounts, the gross selling price (gross invoice price) at which the saleis recorded is equal to the list price minus any trade discounts.Select one:True FalseThe correct answer is 'True'.
(T / F) Sales discounts arise when the seller offers the buyer a cash discount, typically 1 to 3 percent, toinduce early payment of an amount due.
(T / F) Cost of goods sold = Beginning inventory + Net cost of purchases − Ending inventory.Select one:

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