Define the term merchandiser.

Q: Define the term merchandise returns.

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: Define Sales discounts.

A: Merchandising businesses: Merchandising companies which buy goods from suppliers, or manufacturers,…

Q: What is the LIFO retail method?

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: 1. Identify any two examples of Wholesale Merchandise Business and Retail Merchandise Business

A: Introduction:- A merchandising business, often known as merchandisers, is one of the most common…

Q: Determine which of the following statements about merchandise is correct.

A: Merchandise inventory: Merchandise inventory is the inventory purchased by company for the purpose…

Q: Describe about concept of the GOODS ON CONSIGNMENT?

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: Distinguish between sales book and sales account.

A: Sales book: Sales book is one of the subsidiary book of accounting in which all the transactions…

Q: Explain purchase accounting

A: Purchase accounting means any premium paid by bidder in excess of the value of books of aims assets…

Q: Define Purchase discounts.

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: Define goods in transit? Explain?

A: Goods are the inventory of the seller and for purchaser, the goods can be the raw material, if the…

Q: What document initiates the sales process?

A:

Q: An item must possess two characteristics to be classified as inven tory by a merchandiser. What are…

A: The item must satisfy two characteristics to be classified as an inventory by a merchandiser.  1.…

Q: Define Net purchases.

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: Describe the Issues Pertaining to the Retail Method.

A: Retail inventory method is used to calculate the value of ending inventory by comparing the retail…

Q: What is a merchandiser?

A: Merchandiser is a business that purchases goods  and resells to customers…

Q: Sellers supply can be represented by-

A: Answer

Q: Define Purchase return.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: Explain an example how to record sales revenue.

A: Sales revenue is the revenue from the sales generated by the company. The sales may be either cash…

Q: Define Sales revenue.

A:

Q: What is a purchase return? How does a purchase allowance differ from a purchase return?

A: Purchase return: Purchase return refers to return of merchandise or goods purchased by customers to…

Q: Define sales allowance.

A: Sales allowances: When a customer agrees to buy defective goods or improperly made then seller gives…

Q: Provide one example of a transaction that affect  service business and  merchandise business.

A: Business refers to all those organization or company who engaged in any type of industrial,…

Q: Define Conventional retail method.

A: Definition:   Retail inventory method: It takes into account all the retail amounts that are, the…

Q: What is the definition net cost of purchases?

A:

Q: What is an inventory manager?

A: Inventory Management: It refers to the process of managing the Inventory or stock of raw materials,…

Q: What is purpose of sales journals?

A: Sales journal: It is one form of special journal book, which records all the sales transactions that…

Q: Define the term Purchase Volume?

A: INTRODUCTION Purchases  In accounting, the cost of making purchases during a time period with the…

Q: Explain Retail Terminology with example.

A: Retail terminology: Retail terminology refers to the jargon or technical terms specifically used in…

Q: Define the term Retail Terminology.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: What are the two types of merchandisers? How do they differ?

A:

Q: Define the term inventory costs.

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What is the difference in the operating cycle of a service provider and a merchandiser?

A: Operating cycle is defined as the amount of time the company requires to use its cash in order to…

Q: What are the revenue credits? Give an example?

A: Meaning of Revenue Credit:Revenue Credit refers to the payments received in advance for services…

Q: Which of the following is an example of a contra revenue account?A. salesB. merchandise inventoryC.…

A: This account book transaction would be linked to certain associated accounts of a different sort.…

Q: what document initiates the sale process

A: In the above questions we have asked about the document which initiates sale process.

Q: Describe the operating cycle of a merchandiser.

A:

Q: what document initiates the sale

A: Sales Process:   Sales process is defined as a repeatable process that starts from accepting the…

Q: merchandise inventory

A: Merchandise inventory refers to price at which the company wants to sell further to its clients at a…

Q: Define purchase allowance

A: Following is the meaning of a purchase allowance

Q: What is the most common constraint faced by merchandisers?

A: Most common constraints faced by merchandisers are: Limited Display Space: Small stores find it…

Q: Describe measures to control merchandise inventory.

A: Control over merchandise inventory: For a merchandise business, maintaining an effective control…

Q: Explain the purpose of sales journal.

A: Journals are prepared by the company to record the monetary transactions of the company.

Q: The flow of goods and services to consumers is illustrated by

A: Relationship of Goods and Service price with Consumer  Supply Chain of goods and Service from…