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Social Science Clinic => Accounting => Topic started by: skymedlock on Apr 8, 2019

Title: If available, a 1% discount for payment within 10 days instead of 30 days represents an approximate ...
Post by: skymedlock on Apr 8, 2019

Question 1

When purchasing miscellaneous supplies, companies can reduce costs, improve efficiency, and combat employee fraud by
◦ using procurement cards.
◦ implementing a JIT inventory system.
◦ requiring employees to personally purchase items then reimbursing employees at the end of each month.
◦ paying amounts out of petty cash.

Question 2

If available, a 1% discount for payment within 10 days instead of 30 days represents an approximate savings of ________% annually.
◦ 1
◦ 12
◦ 18
◦ 36

Title: If available, a 1% discount for payment within 10 days instead of 30 days represents an approximate ...
Post by: ankilker on Apr 8, 2019

Answer 1

using procurement cards.

Answer 2

18

Title: If available, a 1% discount for payment within 10 days instead of 30 days represents an approximate ...
Post by: skymedlock on Apr 8, 2019

Thank you!

Title: If available, a 1% discount for payment within 10 days instead of 30 days represents an approximate ...
Post by: ankilker on Apr 8, 2019

Always glad to help...