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2.11 Sales Transactions
Terms in this set (19)
A percentage fee placed by the government on the sale of goods and services.
A written record of a sales transaction that includes such information as the date of the transaction, items purchased,purchase prices, sales tax, and the total amount due.
A transaction that occurs when a customer pays for merchandise at the time of delivery.
a partial return of the sale price for merchandise that the customer has kept. These are usually given when there is a defect in the merchandise, such as a missing button.
an agreement permitting a customer to take merchandise (usually clothing) home for further consideration. Some department and specialty stores extend this special privilege to their regular customers.
Universal Product code
a combination bar code and number used to identify a product and manufacturer.
The process of combining a cash register with a computer, making it possible to capture information about the transaction at the time of sale, then applying it to different functions.
Purchase Order (PO
A legal contract between a buyer and a supplier to purchase a specified number of products at a specified price.
An itemized list of goods that includes prices, terms of sales, total, taxes and fees, and an amount due.
Terms for Delivery
The final delivery arrangement between the buyer and seller.
The price for goods includes delivery at the seller's expense to a specified point and no further.
a reduction in the price of goods and services sold to customers.
discounts offered by employers to their workers.
Discounts from Vendors
types of discounts offered by manufacturers and distributors such as cash, trade, quantity, seasonal, and promotional.
a discount offered to buyers to encourage them to pay their bills quickly.
discounts based on manufacturers' list prices. They are not really discounts but are the way manufacturers quote prices to wholesalers and retailers.
discounts offered to buyers for placing large orders; in order to encourage buyers to buy in bulk.
discounts given to businesses that agree to advertise, or in some other way, promote a manufacturer's products.
discounts to encourage buyers to purchase goods long before the actual consumer buying season.
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