Chapter 15 review accounting BYRD

written offer to a supplier to buy certain items is called

• purchase order

• purchase allowance

• processing stamp

• invoice

date an invoice must be paid is called the

• purchase order

• due date

• discount period

• invoice

written request that a certain item or items be

• purchase requisition

• purchase return

• purchase order

• packing slip

s the actual cost to the business of the merchandise sold to customers

• cost of merchandise

• purchase return

• purchase order

• packing slip

When the supplier pays the shipping cost to the buyer’s destination or location, the term is called .

• FOB shipping point

• FOB destination

• discount period

• packing slip

Information placed on an invoice that outlines a set of steps to be followed in processing the invoice for payment is a(n)

• FOB shipping point

• processing stamp

• discount period

• packing slip

The period of time within which an invoice must be paid in order to receive an amount off the invoice price is called a(n)

• FOB shipping point

• processing stamp

• discount period

• packing slip

A(n)_____________ is a document that lists the credit terms and the quantity, description, unit price, and total cost of the items shipped to the buyer.

• FOB shipping point

• processing stamp

• discount period

• invoice

A ledger that contains accounts for all creditors and the amount that is owed to each is the___________

• accounts receivable

• accts payable

• purchase return

• invoice

amount paid for insurance

• cost

• premium

• return

• purchase order