Find the Term, from the List Below, That Completes Each Sentence

Name ______Find the term, from the list below, that completes each sentence.

1. A reduction of the invoice price given for early payment is known as

______.

2. The selling price of an item less its cost is called ______.

3. Price reductions, such as 15%, 10%, and 5%, are called a(n) ______.

4. A form sent to retailers showing the value of returned merchandise is called a(n)

______.

5. ______tells what percentage of the total market’s sales one seller has.

6. What is another word for a bill? ______

7. A box of 14 party streamers has a list price of $15.70 per streamer. The series discount offered is 20%, 15%, and 5%. What is the invoice price of the box of streamers? ______

9. A cashier began a work period with a $180 change fund. At the end of the work period, the register showed cash received of $8,359.29 and cash paid out of $400.16. Actual cash in the cash drawer was $8,137.11. Was the cash drawer short or over AND by how much?

10. 11. ______by ______

12. 13. A research firm mailed 32,500 surveys to a company's shareholders. The number of valid surveys returned was 14,872. What was the response rate, to the nearest percent?

14. ______

15. A store carries women's suits in a $400 price line. The markup is 47% of the selling price.

What is the highest amount the store may pay for suits to get the desired markup?

16. ______

17. A straw hat has a list price of $26 and is offered at a 45% trade discount. What is the amount of the trade discount and the invoice price?

18. Trade discount______Invoice price ______

19. An invoice dated March 11 has terms of sale of 1/10, n/45. What is the discount date and the due date of the invoice? Disc date______Due date______

20. An invoice dated March 11 has terms of sale of 10/10, n/20 EOM. What is the discount date and the due date of the invoice? Disc date______Due date______

21. 22. A wholesaler recorded these transactions in April for Rasher Hardware's account: April 1, balance forward, $3,482; April 7, Invoice #358 for $4,235: April 12, payment of $3,482; April 13,

Credit Memo #98 for $78.40; and April 28, Invoice #427 for $1,873. What was the account's balance on April 30? ______

25. An invoice for $3,410 dated November 6 has terms of 2/10, 1/20, n/60. What is the amount of the cash discount and cash price if the invoice is paid on November 25?

26. Cash Discount ______Cash Price ______27.

28. An invoice for 56 shirts @ $22.46 dated August 2 was paid on September 6. Credit terms were 5/10, 3/15, 1/45, n/60. What amount should be sent to pay the invoice? ______

30. At the end of a season a ski sweater which had a 60% markdown was priced at $60 what was the original price? ______

31. 32. At the end of a season a ski sweater with a marked price of $140 was offered at a 60% discount. What is the selling price of the sweater? ______

34. Multi-Sports sold a hockey jersey for $112. The cost of the jersey was $85. What rate of markup on cost did Multi-Sports earn on the jersey, to the nearest percent?

35. ______36. The respondents to a theater lobby survey rated a movie as follows: 4 stars, 125;

37. 3 stars, 86; 2 stars, 31; and 1 star, 47. What average star rating did the movie get? What

percent of the raters gave the movie 3 or more stars, to the nearest percent?

38. 39. Ave rate ______% rated 3 or more______40. Using the information in your textbook on page 424, please do

41. question # 14 in the account record below:

42. Account: Alexea Company 43. 44. 45. 48. Acc oun 49. 10- t 2234 46. 708 Gower Street 47. No. -5 50. Greenville, SC 29611-3381 51. 52. 53. 5 4 . 55. 56. 57. 58. 5 9 . 60. 61. 62. 63. 6 4 . D 67. Cre 68. Bala 65. Description 66. Charges dits nce 6 9 . 73. $ 1 5,372 70. Balance Forward 71. 72. .38 7 75. Payment of balance 76. 77. $ 78. $ 5,3 1 72. 38 - 7 9 . 83. $ 1 81. $ 4,182 80. Inv # 7021 4,182.89 82. .89 8 4 . 87. $ 88. $ 1 619 3,563 85. Credit Memo #671 86. .00 .89 8 9 . 93. $ 1 91. $ 5,842 90. Inv # 7287 2,278.36 92. .25 9 4 97. $ . 3,5 98. $ 1 95. Payment of inv #7021 - 63. 2,278 cm#671 96. 89 .36 9 9 102. . $ 103. $ 1 101. $ 89. 2,189 100. Credit Memo #709 - 01 .35 1 0 4 . 105. 106. 107. 108. 109.

110. 111.