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Buisness > Terms of sale > Flashcards

Terms of sale Flashcards

1
Q

COD

A

Cash on delivery

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2
Q

Cwo

A

Cash with order

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3
Q

Ex works

A

Cost of delivery is not included

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4
Q

Carriage paid

A

You must pay for Delivery

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5
Q

Trade discount

A

If someone works in the trade

If money is paid on time or early

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6
Q

Remittance advice slip

A

Is a pre printed document attached to a statement that is printed by the buyer when the amount paid is owed. It shows the amount owed and due and is a reference

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7
Q

Credit note

A

Is a document sent by the debtor to the seller that shows a reduction in the amount owed by the buyer

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8
Q

Debit note

A

Is issued by the the sellar if of the customer was was uncharged for any goods given to him

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9
Q

Delivery note

A

A delivery docket is a document sent by a the seller to the buyer that list the goods that have been delivered to them

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10
Q

Invoice

A

Is a document sent by the seller to the buyer giving details on quantity, quality, number of description and price of goods and details of carriage.

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11
Q

Debtor

A

Someone who owes you money

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12
Q

Creditor

A

Someone you owe money

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13
Q

Vat

A

Value added tax

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14
Q

Net

A

Final Amount you pay after tax and discounts

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15
Q

Gross

A

Profit without tax or deductions

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16
Q

Asset

A

A useful person or thing good for business

17
Q

Liability

A

Being responsible for something causes you difficulty

18
Q

Effective purchasing

A

Getting different quotations from a number of suppliers checking price , quality and when available.

19
Q

Credit worthiness

A

If a person will pay back

20
Q

How to check credit worthiness

A

Trade reference, bank reference, from previous sellers and Stubbs gazette (a magazines that names customers who do not pay back debt or bills)

21
Q

E+oe

A

Errors and omissions accepted

Buisness (5 decks)

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