What does n/eom means on an invoice?

Select one:

a. payment is due on the end of the month

b. payment is due on the end of the year

c. payment is due within 30 days

How net income is calculated?

Select one:

a. gross profit - operating expenses

b. net sales - operating expenses

c. sales - operating expenses

In which inventory system always have readily available the amount of merchandise available for sale and the amount sold?

Select one:

a. perpetual inventory system

b. periodic inventory system

What does the term FOB (free on board) shipping point means?

Select one:

a. buyer pays the freight cost from the shipping point to the final destination.

b. seller pays the freight costs from the shipping point to the final destination.

c. either the seller or buyer pays the freight cost from the shipping point

What does FOB (free on board) destination means?

Select one:

a. either the buyer or the seller pays the freight costs

b. buyer pays the freight costs from the shipping point to the buyer's final destination

c. seller pays the freight costs from the shipping point to the buyer's final destination.