Business, 26.10.2020 22:20, frankierice020

Which accounts are specific to a trading business?

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answered: PlaneGamer5678

3 1/2

Explanation: that number really speaks to me. Also I am working on the same thing and have no idea.

answered: kprincess16r

Certain accounts that are maintained exclusively by trading businesses include purchases, purchase returns, purchase discounts, freight on purchases, sales, sales returns, and sales discounts.

A purchases account records the transactions of purchasing stock or inventory, which is resold later. In case the stock is defective, it can be returned to the seller (manufacturer). This transaction is recorded in the purchase returns account. Sometimes, the trading business (buyer) may get a discount on goods purchased from the manufacturer (seller) for making an early payment. This discounted amount is recorded in the purchase discount account. Purchase discounts and purchase returns are both contra-expense accounts. A trading business may have to spend money for transportation of goods. These expenses are recorded in the freight on purchases account.

A sales account records the revenue earned from sale of products. Transactions relating to goods returned by customers are recorded in the sales returns account. Sales discounts offered by a trading business to its customers are an expense for the business and are recorded in the sales discounts account. Sales discounts and sales returns are both contra-revenue accounts.

Explanation:

answered: Guest

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answered: Guest

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

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