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Name:
Ch 8

Question 1 Fill in the Blank
5 points

Freight terms of FOB destination indicate that the __________ is to pay the shipping cost.

Question 2 Fill in the Blank
5 points

When a shipment is labeled ____________ __________ __________, this means the seller pays the shipping charge and adds it to the invoice.

Question 3 Fill in the Blank
5 points

If an invoice is dated March 17, with credit terms of 4/20, N/50, this means a discount can be taken on or before __________ and the net amount of the bill is due by __________.

Question 4 Fill in the Blank
5 points

The terms of a freight shipment are indicated on an instrument called a __________ __________ __________.

Question 5 Fill in the Blank
5 points

An invoice dated November 17 is received with credit terms of 3/15, N/40. The due date is __________.

Question 6 Fill in the Blank
5 points

The terms 3/10, 1/15, N/30 means that a __________ percent discount is available from day 11 to day 15.

Question 7 Fill in the Blank
5 points

February 10 is __________ days after December 29.

Question 8 Fill in the Blank
5 points

If a manufacturer offers a single rate discount of 25%, what percent of the list price does the buyer pay?

Question 9 Fill in the Blank
5 points

The actual credit one receives in making a partial payment is calculated by taking the partial payment and dividing by the complement of the __________ __________.

Question 10 Fill in the Blank
5 points

Assuming a list price of $800.00 and a discount of 15/10/10, the net price would be __________.

Question 11 Fill in the Blank
5 points

List price minus __________ equals net price.

Question 12 Fill in the Blank
5 points

In the credit term 3/15, ROG, the ROG stands for __________ __________ __________.