The part of the basic flow of information within a business that involves placing an order with a company.
What is purchasing?
100
Adjusting the price that a business charges for a good based on its position in the product life cycle.
What is the life-cycling pricing?
100
The adjusting entry that is an increase of assets.
What is a revenue accrual?
100
A commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
The part of the basic flow of information within a business that involves the retrieval of inventory or when a customer claims a product purchased.
What is receiving?
200
The pricing method that is determined after all taxes and subsidies are applied. (Discounted Price)
What is the net pricing method?
200
The adjusting entry that is a decrease of a liability.
What is a revenue deferral?
200
An example of this would be the cost of running the factory such as lighting costs.
What is an example of manufacturing overhead?
300
This characteristic of the accounting event impacts the three basic categories of accounting.
What is the impact on entity's assets, liabilities and owner's equities?
300
The part of the basic flow of information within a business that involves the monitoring and the constant check of the amount and type of products within the inventory.
What is inventory control?
300
The pricing method that consists of the initial price of a product and pre-tax cost of the product. (List Price)
What is the gross price method?
300
The adjusting entry that is an increase of a liability.
What is an expense accrual?
300
The determined amount a customer may pay for a product.
What is a product cost?
400
The characteristic that describes money as the sole value in accounting in a period time.
What is measurable in monetary terms?
400
The part of the basic flow of information within a business that involves the payment on account.
What is accounts payable?
400
A strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time.
What is skimming pricing?
400
The adjusting entry that is a decrease of an asset.
What is an expense deferral?
400
The purchaser claims the goods once it is received from the buyer's supplier's dock.
What is FOB Destination?
500
The characteristic that describes a business is an entity unto itself.
What is specific to an entity?
500
The part of the basic flow of information within a business that consists of a monitor recording the payment and the transaction of a sale from a company's inventory.
What is cashier?
500
A pricing method that involves identifying the price at which a product will be competitive in the marketplace.
What is target pricing?
500
Entries made to reflect internal events.
What is an adjusting entry?
500
When a company takes good they purchased once it leaves the shipping dock.