Accounts Payable And Recieveable

Question 1

Amounts of money owed to a business by the company’s customers are called

Answer 1

Accounts payable

Question 2

A non profit business may be exempt from

Answer 2

Sales tax

Question 3

Amounts of money coming into and going out of the company are called

Answer 3

Cash flow

Question 4

Purchase orders are prepared by the

Answer 4

Buyer

Question 5

A form sent with a check when the customer pays an invoice is called

Answer 5

Remittance slip

Question 6

The terms on a purchase order have to do with the method of

Answer 6

Payment

Question 7

Before paying an item invoice a manager should wait until he or she receives the

Answer 7

Shipment form

Question 8

The price for one item is called the

Answer 8

Unit price

Question 9

Retailers and wholesales are also called

Answer 9

Suppliers

Question 10

A fee earned based on a percentage of the sale is called

Answer 10

Commission

Question 11

How do you find interest?

Answer 11

Principle x rate x time