Orange Coast College-MANAGEMENT425

1)What is a purchase return?

2)A sales return refers to merchandise that customers (customers/sellers/creditors) return to the seller (customer/seller/creditor) after a sale for a refund of the purchase price or reduction in the amount owed

The components of merchandise’s multip- step in come statement are shown below. In which

order would they appear on the statement?

3. Which statement below correctly explains what merchandise Inventory Is?

4. determine which of the following statement below regarding a merchandiser are correct?

5. Explain what the credit term of 2/10 n /30 mean?
6. identify the statement below which are correct regarding a merchandiser's multi-step income statement?