Author Question: Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as ... (Read 50 times)

michelleunicorn · **on:** Jul 5, 2018

Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as
a. sales on account
b. sales returns
c. cash sales
d. sales when the credit card company remits the cash

Question 2

Explain the objectives of financial reporting.

What will be an ideal response?

kjo;oj · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

c

Answer to Question 2

The most important objective of financial reporting is to provide useful information for decision makers. In order to be useful, the information has to be relevant, reliable, comparable and consistent.