Please answer all questions with explanations. Thank you! 2 points QUESTION 33 1. Which of the following factors would suggest the use of a perpetual inventory system? Only annual reporting is required. CA small company. C A desire to minimize record-keeping requirements. c Inventory items with a high per-unit cost. 2 points QUESTION 34 1. The credit term 2/10, n/30 means: That after 10 days 2% interest is charged. That there is a 10% discount if payment is received within 30 days. There is a 10% discount if paid immediately and 2% if paid within 30 days. That there is a 2% discount if payment is received within 10 days, otherwise, full payment is due within 30 days. 2 points QUESTION 35 1. Sales discounts and allowances: When properly recorded will reduce net profit. When properly recorded will increase net profit. C Will not affect net profit. C Are always immaterial and need not be recorded. 2 points QUESTION 36 1. Beacon Food Stores purchased canned goods at an invoice price of $4,000 and terms of 2/10, n/30. Half of the goods had been mislabeled and were returned immediately to the supplier. If Beacon Food pays the remaining amount of the invoice within the discount period, the amount paid should be: C $1,920. C $1,960. C $3,920. C $4,000