Question 1
Which of the following is a business function related to sales returns and allowances?
◦ processing customer orders
◦ writing off uncollectible accounts
◦ processing and recording credit memos
◦ granting credit
Question 2
Which of the following is a correct statement regarding the shipment of goods?
◦ The shipping document must be in paper form.
◦ The shipping document is used to update the perpetual inventory records.
◦ Only one copy of the shipping document is needed.
◦ All of these are correct statements.