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FBLA Business Calc - Chapter 7

Terms in this set (10)

invoices
business documents used to keep track of sales and purchases are called
seller
Freight terms, FOB destination indicate that the ___________ is responsible for the freight charges
list
Trade discounts are reduction from the manufacturer's suggested ____________ price
net
the _________ price of merchandise is calculated by subtracting the amount of trade discount from the list price
complement
the net price factor, usually written in decimal form, is the ________________ of the trade discount from the list price
series, chain/chain, series
the single equivalent discount is a single trade discount that equates to all the discounts in a(n) ______________ or ____________
credit
the __________ period is the time period that the seller allows the buyer to pay an invoice
cash discount
the _____________ period is the time period in which a buyer can take advantage of the cash discount
Ordinary
__________ dating is when the discount period and the credit period start on the date of the invoice
ROG (receipt of goods)
when ____________ dating is used, terms of sales begin on the date the goods have received by the buyer
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