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Creado por Eli Southard
hace casi 2 años
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Pregunta | Respuesta |
Cash Discount | Savings that result from early payment by taking advantage of discounts offered by the seller; discount is not taken on freight or taxes. |
Chain Discounts | Two or more trade discounts that are applied to the balance remaining after the previous discount is taken. |
Complement | 100% less the stated percent. |
Credit Period | Credit days are counted from date of invoice. |
Discount Period | Amount of time to take advantage of cash discount. |
Due Dates | Maturity date, or when the note will be repaid. |
End of Credit Period | Last day from date of invoice when customer can take cash discount. |
End of the Month (EOM) | Cash discount period begins at the end of the month invoice is dated. After the 25th discount period, one additional month results. |
FOB Destination | Seller pays cost of freight in getting goods to buyer's location. |
FOB Shipping Point | Buyer pays cost of freight in getting goods to his location. |
Freight Terms | Determine how freight will be paid. Most common freight terms are FOB shipping point and FOB destination. |
Invoice | Document recording purchase and sales transactions. |
List Price | Suggested retail price paid by customers. |
Net Price | List price less amount of trade discount. The net price is before any cash discount. |
Net Price Equivalent Rate | When multiplied times the list price, this rate of factor produces the actual cost to the buyer. Rate is found by taking the complement of each term i the discount and multiplying them together (do not round off). |
Ordinary Dating | Cash discount is available within the discount period. Full amount due by the end of credit period if discount is missed. |
Receipt of Goods (ROG) | Used in calculating the cash discount period; begins the day that the goods are received. |
Series Discounts | Two or more trade discounts that are applied to the balance remaining after the previous discount is taken. |
Single Equivalent Discount Rate | Rate or factor as a single discount that calculates the amount of the trade discount by multiplying the rate times the list price. This single equivalent discount replaces a series of chain discounts. The single equivalent rate is (1 - Net price equivalent rate) |
Single Trade Discount | Company gives only one trade. |
Terms of the Sale | Criteria on invoice showing when cash discounts are available, such as rate and time period. |
Trade Discount | Reduction off original selling price (list price) not related to early payment. |
Trade Discount Amount | List price less net price. |
Trade Discount Rate | Trade discount amount given in percent. |
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