This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Trade discounts represent a reduction in the price of the merchandise and should not be entered in ... (Read 34 times)

rachel9

  • Sr. Member
  • ****
  • Posts: 495
on: Jul 5, 2018
Trade discounts represent a reduction in the price of the merchandise and should not be entered in the accounts of either the seller or the buyer.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

A company that uses the first-in, first-out method of valuing cost of goods sold must sell its older inventory before selling any of its newer inventory, even though some of the newer items may be more accessible.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Pswine

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

FALSE


rachel9

  • Member
  • Posts: 495
Reply 2 on: Jul 5, 2018
Excellent

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
(A) The name and shape of the adult teeth. These teeth represent those found in the right side of th (A) The name and shape of the adult teeth. These teeth represent those found in the right side of th
Memory saver. The part numbers represent components from Radio Shack®. Memory saver. The part numbers represent components from Radio Shack®.
Bacterial immunity. Bacterial enzymes destroying nonself DNA which entered in an attack by a ... Bacterial immunity. Bacterial enzymes destroying nonself DNA which entered in an attack by a ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Video: Primary and secondary response to infection

For a complete list of videos, visit our video library