Record various business transactions in accordance with generally accepted accounting principles.
Record various business transactions in accordance with generally accepted accounting principles.
Instructions:
Answer one of the following questions:
Explain how the operating cycle for a merchandiser is different from a manufacturer.
Explain the difference between perpetual and periodic inventory systems. What types of businesses would use each system and what are the advantages and disadvantages of each.
Companies sometimes offer their customers a discount on their purchases if they pay early. What is the benefit for the company to take a reduced amount on these purchases and from the customer’s point of view is it beneficial for them to take the discount. What factors does the customer have to consider when deciding to take the discount?
Please be sure to validate your opinions and ideas with citations and references in APA format.
Answer preview to record various business transactions in accordance with generally accepted accounting principles.
APA
351 words