Insert the letter for each term in the blank space beside the definition that it most closely matches:
a. Cash discount
b. Credit period
c. Discount period
d. FOB destination
e. FOB shipping point
f. Cross profit
g. Merchandise inventory
h. Purchase discount
i. Sales discount
j. Trade discount
------------ 1. An agreement that ownership of goods is transferred at the buyer's place of business.
------------ 2. The time period in which a cash discount is available.
------------ 3. The difference between net sales and the cost of goods sold.
------------ 4. A reduction in a receivable or payable that is granted if it is paid within the discount period
------------ 5. A purchaser's description of a cash discount received from a supplier of goods.
------------ 6. An agreement that ownership of goods is transferred at the seller's place of business.
------------ 7. A reduction below a list or catalogue price that is negotiated in setting the selling price of goods
------------ 8. A seller's description of a cash discount granted to customers in return for early payment.
------------ 9. The time period that can pass before a customer's payment is due.
------------ 10. The goods that a company owns and expects to sell to its customers.