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Author Question: Assume the gross amount of an invoice is 100 and a discount of 20 is allowed. The net amount is a. ... (Read 257 times)

future617RT

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on: Jul 5, 2018
Assume the gross amount of an invoice is 100 and a discount of 20 is allowed. The net amount is
 a. 65.
   b. 80.
   c. 20.
   d. 40.

Question 2

In a time of rising prices, the main reason a company would choose to use FIFO is to save on income taxes.
 
  Indicate whether the statement is true or false


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paavo

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Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

FALSE


future617RT

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

ryhom

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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