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Ch16: Marketing
Chapter 16: Using Math in Sales
Question | Answer |
---|---|
written record of a sales transaction, includes date, items purchased, prices, sales tax, total due | sales check |
removing stock and keeping it in a separate storage area until the customer pays for it | layaway |
agreement permitting a customer to take merchandise home for further consideration | on-approval sale |
customer pays for merchandise at time of delivery | cash-on-delivery sale |
cash-on-delivery | COD |
percentage fee placed by the government on the sale of goods and services | sales tax |
partial return of the sale price for merchandise the customer has kept | allowance |
move from one place to another | transfer |
a particular space, region, or section | area |
a combination bar code and number used to identify a product and manufacturer | Universal Product Code |
Universal Product Code | UPC |
combines a cash register with a computer making the information captured at the time of sale available for other applications | point-of-sale system |
Point-Of-Sale | POS |
cash drawer of a register | till |
coins and currency designated for a register for the day's business | opening cash fund |
to convert a system of self operating machines | automate |
To focus all one's thoughts or efforts on. | concentrate |
legal contract between the buyer and supplier | purchase order |
purchase order | PO |
itemized list of goods that includes prices, terms of sale, total, taxes, fees, and amount due | invoice |
final delivery arrangement made between buyer and seller | terms for delivery |
free on board | FOB |
title and ownership of goods stays with the seller until they reach their destination; seller pays for shipping | FOB Destination |
makes the buyer responsible for shipping and any damages during transit; buyer owns it when it leaves the seller | FOB Shipping Point |
seller pays for shipping but buyer owns goods while in transit | FOB Factory Freight Prepaid |