## Description

**Fundamentals of Business Mathematics in Canada 3Rd Edition By Jerome – Test Bank**

** Sample Questions**

**Instant Download With Answers**

**Chapter 02
Review and Applications of Algebra**

**Multiple Choice Questions**

- Evaluate: L(1
*–*d_{1})(1*–*d_{2}) for L = $1000, d_{1}= 0.30, and d_{2}= 0.20.

A.$440.00

B. $500.00

C. $1785.71

$560.00__D.__

E. $600.00

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Simplify and collect like terms: -a + (2b – c) – (a -b +c)

-2a + 3b – 2c__A.__

B. -2a + b – 2c

C. 3b – 2c

D. -2a + 3b

E. -2a + 2b – 2c

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Simplify and collect like terms: 1 – (3x – xy + y) – (-x + y – 5xy)

A.1 – 2x – 2y – 6xy

1 – 2x – 2y + 6xy__B.__

C. 1 – 4x – 2y + 6xy

D. 1 – 2x – 2y + 4xy

E. 1 – 4x – 2y – 6xy

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- 2(b – 2) – (b – 2) =

A.b + 6

B. 3b – 2

C. 3b + 2

b – 2__D.__

E. b – 6

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Simplify and collect like terms: 3(x – 2y)(2x + y)

A.6x^{2}– 6xy – 6y^{2}

B. 6x^{2}+ 10xy – 6y^{2}

6x__C.__^{2}– 9xy – 6y^{2}

D. 6x^{2}– 9xy + 6y^{2}

E. 6x^{2}+ 10xy + 6y^{2}

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-04 Multiplication and Division
*

- Simplify and collect like terms: 9x – [4y – 3(x – y)]

A.12 x + 7y

B. 6x – 7y

C. 6x + 7y

12x – 7y__D.__

E. 9x – 7y

Difficulty: Easy

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-03 Addition and Subtraction

- Simplify and collect like terms:
A. 4x + 2y

B. 4xy – 2y

C. 4xy + 2y^{2}

4x – 2y__D.__

E. 4xy – 2y^{2}

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-04 Multiplication and Division
*

- Simplify and collect like terms:
A. 2y

^{2}– 3x^{2}y + 5y^{3}

B. 2xy – 3x^{2}y + 5y^{3}

C. 2y – 3x^{2}y + 5y

D. 2y – 3x^{2}+ 5y

2y – 3x__E.__^{2}y + 5y^{3}

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-04 Multiplication and Division
*

- The following algebraic expression , can be classified as:

A.monomial

B. binomial

trinomial__C.__

D. multinomial

E. All choices are incorrect

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-02 Definitions
*

- The following numerical coefficient(s) of , is/are:

A.-4,2

B. 3,4

C. 2

D. 3,-4,2

3,-4__E.__

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-02 Definitions
*

- The following algebraic expression can be classified as:

A. monomial

binomial__B.__

C. trinomial

D. multinomial

E. All choices are incorrect

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-02 Definitions
*

- Simplify and collect like terms:
__4x + 5__– 2.1(x – 7)

8

A. -1.6x – 14.075

B. -1.6x – 15.325

C. 2.6x + 15.325

D. 2.6x – 14.075

-1.6x + 15.325__E.__

Difficulty: Easy

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-03 Addition and Subtraction

- Simplify:
A. -2a + 13

B. -2a – 1

-2a + 7__C.__

D. 2a + 7

E. 2a – 1

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Simplify the following: a
^{2}x a^{6}x a

A.a^{8}

B. a^{7}

a__C.__^{9}

D. a^{12}

E. a^{13}

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following: (a
^{2}) (a^{-6}) (a^{3})

A.a^{11}

B. a

C. a^{-36}

a__D.__^{-1}

E. a^{-5}

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following: b
^{8}¸ b^{2}

A. b^{4}

B. b^{10}

C. b^{16}

D. b^{-6}

b__E.__^{6}

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following: y
^{8}¸ y^{5}

y__A.__^{13}

B. y^{3}

C. y^{-40}

D. y^{40}

E. y^{-13}

Difficulty: Easy

Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable

Topic: 02-07 Rules and Properties of Exponents

- Simplify the following: (x
^{5})^{4}

A. x^{9}

x__B.__^{20}

C. x

D. x^{-1}

E. x^{0}

Difficulty: Easy

Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable

Topic: 02-07 Rules and Properties of Exponents

- Simplify the following: (2x
^{3})^{5}

A. 10x^{15}

B. 32x^{8}

32x__C.__^{15}

D. 2x^{15}

E. 2x^{8}

Difficulty: Easy

Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable

Topic: 02-07 Rules and Properties of Exponents

- Simplify the following:
A. x

^{-1}

B. x^{6}

C. x^{-2}

x__D.__^{7}

E. x^{2}

*Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following:
A. a

^{0}

B. a

C. a^{-11}

D. a^{-5}

a__E.__^{-12}

*Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following:
16a__A.__^{10}b^{5}

B. 2a^{10}b^{5}

C. 16a^{3}b^{3}

D. 2a^{5}b^{5}

E. 16a^{5}b^{3}

*Difficulty: Easy
Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable
Topic: 02-07 Rules and Properties of Exponents
*

- Simplify the following:
A.

__B.__

C.

D.

E.

Learning Objective: 02-02 Rearrange a formula or equation to isolate a particular variable

Topic: 02-07 Rules and Properties of Exponents

- Simplify: 8 – (2x + 4y – 3) – (4y + 10)

A.-8y – 2x + 21

-8y – 2x + 1__B.__

C. -8y – 2x – 2

D. -2x + 1

E. -2x + 21

Difficulty: Easy

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-03 Addition and Subtraction

- (5x – 2y)(x – 2y) =

A.5x^{2}– 12xy – 4y^{2}

B. 5x^{2}+ 8xy – 4y^{2}

5x__C.__^{2}– 12xy + 4y^{2}

D. 5x^{2}– 8xy + 4y^{2}

E. 5x^{2}+ 12xy + 4y^{2}

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-04 Multiplication and Division
*

- Simplify and collect like terms:
-0.7x__A.__^{2}– .4x + 1.15

B. 0.7x^{2}– .4x + 1.15

C. -0.7x^{2}– .4x + .35

D. 0.7x^{2}– .4x + .35

E. -0.7x^{2}+ .8x + 1.15

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Simplify and collect like terms:
A. 3.076P

3.018P__B.__

C. 2.787P

D. 3.532P

E. 2.956P

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Simplify and collect like terms:
A. 2.957

*x*

B. 2.208*x*

3.057__C.__*x*

D. 2.068*x*

E. 1.983*x*

*Difficulty: Difficult
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-03 Addition and Subtraction
*

- Evaluate: -4(r – t) – (2r – 4t) for r = 1/2 and t = 1/4.

A.1

B. 5

C. 3

D. -5

-1__E.__

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Evaluate the following expression: 3x + 4y -6xy, for x = 2, y = -3

30__A.__

B. -42

C. 54

D. -18

E. 24

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Evaluate the following expression:
*P*(1 +*rt*), for*P*= $1575,*r*= .055,A. $39.87

$1614.87__B.__

C. $1973.71

D. $16,128

E. $724.96

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Evaluate the following: 25
^{3/2}

A. 8.6

B. 37.5

125__C.__

D. 5

E. 625

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following: -16
^{5/4}

A. 32

B. 64

C. -64

-32__D.__

E. 10

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following: 2.48832
^{1/5}=

A.95.396217

B. 0.0104826

1.2__C.__

D. 3.0

E. 0.8333333

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
A. 14,857.17

B. 487.56

C. 3714.29

D. 60.945

11.04__E.__

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
12.006__A.__

B. 698.137

C. 1.201

D. 36.006

E. 35.58

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
A. 233.95

6.888__B.__

C. 0.689

D. 23.395

E. 23.763

*Difficulty: Easy
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
A. -5.857

B. -10.446

5.857__C.__

D. 0.5857

E. 13.485

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
A. -9.971

B. -22.579

C. 58.29

9.971__D.__

E. 25.743

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
=

A.r^{9}t^{4}

B. r^{6}t^{6}

C. r^{6}t^{7}

D. r^{9}t^{11}

r__E.__^{9}t^{9}

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Evaluate the following:
=

A.r^{5}

B. r^{17/12}

r__C.__^{12}

D. r^{2}

E. r^{36}

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-07 Rules and Properties of Exponents

- (8
^{2})(2^{-4})( -2)^{2}=

A.1024

B. 256

C. 4

D. 48

16__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Calculate the final result to two decimal places, where x = $6.80

$26.28__A.__

B. $27.38

C. $28.48

D. $18.58

E. $30.28

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Calculate the final result to two decimal places, where f = $8.25
A. -15.22

– 18.22__B.__

C. 12.22

D. 15.22

E. 18.22

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Calculate the final result to two decimal places, where z = .1515
A. .48

B. 2.65

1.48__C.__

D. 3.22

E. 5.48

*Difficulty: Moderate
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-05 Substitution
*

- Calculate the result to the nearest cent given n = 3;
*i*= .087 and R = $925A. $18,716.57

B. $22,512.13

C. $5,341.55

$2,354.02__D.__

E. $2,158.21

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-05 Substitution

- Calculate the result to two decimal places given t = 1.25

4.43__A.__

B. 5.27

C. 3.85

D. 4.67

E. 3.10

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-05 Substitution

- Calculate the result to four decimal places given r = 1.3 and t = 2.6

A. 1.0683

.0563__B.__

C. .0885

D. 1.2573

E. 6.2675

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-05 Substitution

- Solve the following to four decimal places
A. 49.5768

B. 45.1526

47.4774__C.__

D. 21.6818

E. 32.9871

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-07 Rules and Properties of Exponents

- Solve the following to four decimal places
A. 1.0390

B. 0.0678

C. 0.0412

0.0390__D.__

E. 0.0098

Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents

Topic: 02-07 Rules and Properties of Exponents

- Evaluate the following:
A.

B.

C.

D.

1__E.__

*Difficulty: Difficult
Learning Objective: 02-01 Simplify algebraic expressions by extracting common factors and applying rules of exponents
Topic: 02-07 Rules and Properties of Exponents
*

- Solve for the unknown rounded to the nearest dollar.
1,500__A.__

B. 2,500

C. 1,750

D. 3,750

E. 875

*Difficulty: Difficult
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-09 Solving a Linear Equation in One Unknown
*

- Solve for the unknown rounded to the nearest cent.
A. 108.74

98.44__B.__

C. 68.41

D. 15.25

E. 88.67

*Difficulty: Difficult
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-09 Solving a Linear Equation in One Unknown
*

- Solve for the unknown rounded to two decimal places

A. 1,875.13

B. 2,388.44

3,960.51__C.__

D. 4,137.68

E. 5,408.77

*Difficulty: Difficult
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-09 Solving a Linear Equation in One Unknown
*

- Solve for x and y:
x + y = 40

-x + y = -20

x = 30; y = 10__A.__

B. x = – 10; y = 30

C. x = – 30; y = – 10

D. x = – 60; y = 20

E. x = – 60; y = – 20

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-10 Solving Two Linear Equations in Two Unknowns
*

- Solve for x and y:
2x + 3y = 7

3x – y = 5

A. x = 6; y = 2

B. x = – 2; y = 1

C. x = – 2; y = – 1

x = 2; y = 1__D.__

E. x = 2; y = – 1

*Accessibility: Keyboard Navigation
Difficulty: Easy
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-10 Solving Two Linear Equations in Two Unknowns
*

- Solve for x:
= 2x – 10

6__A.__

B. -6

C. -10

D.

E. 10

*Difficulty: Easy
Learning Objective: 02-03 Solve a linear equation in one variable, and two linear equations in two variables
Topic: 02-09 Solving a Linear Equation in One Unknown
*

**Chapter 04
Mathematics of Merchandising**

**Multiple Choice Questions**

- A 12½% discount allowed on an article amounted to $25.50. What was the list price?

$204.00__A.__

B. $229.50

C. $3.19

D. $29.14

E. $178.50

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-02 Finding the Amount of Discount in Dollars
*

- The net proceeds to the vendor of a house after payment of 4.8% real estate commission was $182,784.00. At what price did the house sell?

$192,000.00__A.__

B. $877,363.20

C. $191,557.63

D. $8773.63

E. $201,216.00

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-02 Finding the Amount of Discount in Dollars
*

- Mavis Industries sells industrial fans that have a list price of $587.50. The trade discount that they offer to Don Ellis Construction is 37%. What is the net price?

A.$217

$370__B.__

C. $551

D. $625

E. $806

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-02 Finding the Amount of Discount in Dollars
*

- The net price of a computer that is subject to a trade discount of 25% is $1,251. What is the list price?

A.$938

B. $1,276

C. $1,564

D. $1,600

$1,668__E.__

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- Calculate the net price of a snow blower that has a list price of $1,450 and is subject to a trade discount of 27.5%.

A.$1,175

B. $2,000

C. $1,137

$1,051__D.__

E. $992

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- What is the list price of a sofa that has a net price of $1,119 and a trade discount of 26.7%?

A.$1,356

B. $1,418

$1,527__C.__

D. $1,744

E. $1,939

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- Ace Fasteners Ltd. offers Bob’s Hardware a trade discount of 44% on all products. Calculate the total list price of a shipment for which Bob’s is charged $859.

A.$481

B. $665

C. $1,237

D. $1,340

$1,534__E.__

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- The list price is $593 and the net price is $318. What is the trade discount rate?

A.53.6%

B. 27.5%

C. 72.5%

46.4%__D.__

E. 86.5%

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- The net price on an item is $327. The list price is $855. What is the rate of trade discount?

61.8%__A.__

B. 52.8%

C. 44.0%

D. 38.2%

E. 16.1%

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- Martin Auto Parts charges Sam’s Service Centre $386 for a rebuilt transmission that has a list price of $925. What is the rate of trade discount?

A.22.9%

B. 32.2%

C. 40.0%

58.3%__D.__

E. 66.7%

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- Calculate the trade discount rate on an item that lists for $1,950 and has a net price of $1,433.

A.36.1%

B. 73.5%

26.5%__C.__

D. 63.9%

E. 51.7%

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- A 24% trade discount is equal to $365. What is the list price?

A.$453

B. $1,156

$1,521__C.__

D. $993

E. $1,799

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- The difference between the list price and the net price on a motorbike is $772. The rate of trade discount is 27%. What is the list price?

A.$$1,057

$2,859__B.__

C. $3,187

D. $981

E. $1,833

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- What is the net price of an item if the 17.5% trade discount is equal to $32.44?

A.$381

B. $185

$153__C.__

D. $217

E. $92

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- After a trade discount of 37% a set of patio furniture is sold at a net price of $577. Calculate the list price.

A.$941

$916__B.__

C. $790

D. $614

E. $364

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- Calculate the net price of a vacuum cleaner that has a list price of $699 and is subject to a trade discount of 35%

A.$245

$454__B.__

C. $664

D. $755

E. $944

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- A DVD player has a list price of $249 and is subject to a trade discount of 35%. Calculate the net price.

A.$411

B. $336

C. $214

$162__D.__

E. $87

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

- The 55% trade discount on an item is equal to $509. What is the net price?

A.$355

B. $488

C. $667

D. $789

$416__E.__

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-02 Finding the Amount of Discount in Dollars

An employer will cut his current workforce of 38,000 as follows: 8% now, 6% in one year, and 4% two years from now.

- How many employees will the employer have after all cuts?

31,548__A.__

B. 29,280

C. 31,160

D. 34,960

E. 6,840

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-03 Multiple Discounts (or Series Discounts)
*

- How many employees will be cut one year from now?

A.6,840

B. 1,315

C. 2,280

D. 3,040

2,098__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-02 Finding the Amount of Discount in Dollars
*

- The current price of Acme stock is $5.80. The stock is down 90% from its price one year ago. What was the stock price one year ago?

A.$11.02

B. $6.44

C. $6.38

D. $65.00

$58.00__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-02 Finding the Amount of Discount in Dollars
*

- After discounts of 20% and 10%, an item sold for $115.50. What was the amount of the discount?

A.$32.34

B. $385.00

C. $83.16

D. $80.85

$44.92__E.__

*Accessibility: Keyboard Navigation
Difficulty: Difficult
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-03 Multiple Discounts (or Series Discounts)
*

- A trade discount series of 30%/15%/5% is offered on a product that has a list price of $8,900. What is the net price?

A.$4,450

$5,031__B.__

C. $6,555

D. $7,221

E. $7,925

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-03 Multiple Discounts (or Series Discounts)
*

- The list price of a garden tractor is $2,899. The trade discount series is 20%/12%. Calculate the net price of the tractor.

$2,041__A.__

B. $1,971

C. $1,885

D. $1,842

E. $1,627

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-03 Multiple Discounts (or Series Discounts)
*

- If the trade discount series is 40%/15%/10% and the net price is $555, what is the list price?

A.$916

$1,209__B.__

C. $1,421

D. $708

E. $591

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts
Topic: 04-03 Multiple Discounts (or Series Discounts)
*

- What single rate of discount would be equivalent to a series of 25%/18%/10%?

A.55.4%

B. 53.0%

C. 41.7%

D. 34.3%

44.7%__E.__

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-02 Calculate a single discount rate that is equivalent to a series of discounts
Topic: 04-04 Single Discount Rate Equivalent to Multiple Discounts
*

- What single discount rate is equivalent to multiple discounts of 20%, 5%, 2%?

25.52%__A.__

B. 27%

C. 63%

D. 74.48%

E. 23.97%

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-02 Calculate a single discount rate that is equivalent to a series of discounts
Topic: 04-04 Single Discount Rate Equivalent to Multiple Discounts
*

- If the trade discount series is 30% / 20% / 4% and the net price is $377, what is the list price?

A.$928

B. $1,335

C. $2,027

$701__D.__

E. $866

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-01 Calculate the net price of an item after single or multiple trade discounts

Topic: 04-03 Multiple Discounts (or Series Discounts)

- What single rate of discount would be equivalent to a series of 15% / 8% / 4%?

A.48.0%

B. 27.0%

24.9%__C.__

D. 9.99%

E. 21.4%

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-02 Calculate a single discount rate that is equivalent to a series of discounts
Topic: 04-04 Single Discount Rate Equivalent to Multiple Discounts
*

An invoice for $1,865 dated March 16 has terms 2/10, n/30. The goods are received on April 11.

- When does the discount period end?

March 26__A.__

B. April 15

C. April 16

D. April 21

E. none of these

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- When does the credit period end?

A.March 26

April 15__B.__

C. April 16

D. April 21

E. none of these

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- Given the following notation for an invoice: 4/10,n/30
What is the discount?

A. 20%

B. 10%

4%__C.__

D. 30%

E. None of these

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Topic: 04-06 Cash Discounts and Terms of Payment
*

- Given the following notation for an invoice: 4/10,n/30
What is the discount period?

A. 4 days

10 days__B.__

C. 20 days

D. 30 days

E. None of these.

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Topic: 04-06 Cash Discounts and Terms of Payment
*

- An invoice for $20,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17
^{th}. A payment of $10,000 is made on March 26. How much is credited to the account?

$10,200__A.__

B. $10,150

C. $9,800

D. $9,850

E. $10,000

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. A payment of $15,000 is made on March 26. What is the outstanding balance?

A.$9,550.00

$9,700.00__B.__

C. $10,000.00

D. $10,300.00

E. $9,693.88

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $50,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. If the company wants to reduce the outstanding balance to $25,000, how much should they pay on March 26?

A.$24,250

B. $25,000

$24,500__C.__

D. $25,500

E. $25,750

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $6,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3
^{rd}. A payment of $3,000 is made on September 12^{th}. What is the outstanding balance?

A.$3,000

$2,955__B.__

C. $2,940

D. $3,060

E. $3,045

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice for $7,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. If the company wants to reduce the outstanding balance to $4,000, how much should they pay on September 12?

A.$3,000

B. $2,940

$2,955__C.__

D. $3,920

E. $3,940

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice for $620 dated November 5 with payment terms of 3/10, 2/15, n/30, was paid in full on November 15. What was the amount paid?

A.$18.60

B. $613.80

C. $620.00

D. $607.60

$601.40__E.__

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice for $45,780 has terms of 3/15, n/90. The date of the invoice is March 10. What payment on March 23 would be enough to settle the debt?

$44,407__A.__

B. $38,913

C. $41,660

D. $45,780

E. $44,219

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- The payment terms on a $2,433 invoice dated May 6 are 2/10, n/30. What payment on May 15 would pay off the debt?

A.$2,190

B. $2,433

$2,384__C.__

D. $1,845

E. $2,406

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice dated January 22 has payment terms of 3/25, n/90. On what date would the cash discount expire?

A.February 1

February 16__B.__

C. February 28

D. March 3

E. April 22

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Topic: 04-06 Cash Discounts and Terms of Payment
Topic: 04-07 Terms of Payment
*

- An invoice dated October 16 has payment terms of 2/20, n/45. On what date would the cash discount expire?

A.October 26

B. November 30

November 5__C.__

D. October 18

E. December 7

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Topic: 04-06 Cash Discounts and Terms of Payment
Topic: 04-07 Terms of Payment
*

- An invoice for $35,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. What payment April 14 would reduce the outstanding balance to $25,000?

A.$9,700

B. $10,000

$9800__C.__

D. $10,200

E. $10,300

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- An invoice for $2,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 18. What payment will settle the invoice on October 11?

A.$2,450.00

B. $2,500.00

C. $2,200.00

$2,462.50__D.__

E. $2,125.00

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- An invoice for $3,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. If the company wants to reduce the outstanding balance to $2,000, how much should they pay on October 10?

$1,470.00__A.__

B. $1,477.50

C. $1,530.00

D. $1,522.50

E. $1,500.00

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- An invoice for $50,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 17. The shipment of goods was received on March 29. What payment would settle the invoice on April 9?

A.$48,500

B. $50,000

C. $49,500

D. $48,000

$49,000__E.__

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-09 Other Terms of Payment

Topic: 04-11 Receipt-of-Goods (ROG) Dating

- An invoice for $40,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on March 28. What payment April 8 would reduce the outstanding balance to $20,000?

$19,600__A.__

B. $20,000

C. $20,400

D. $20,600

E. $19,400

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-09 Other Terms of Payment

Topic: 04-11 Receipt-of-Goods (ROG) Dating

- An invoice for $30,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. What payment April 14 would reduce the outstanding balance to $15,000?

A.$14,550

$14,700__B.__

C. $15,000

D. $15,300

E. $15,450

Difficulty: Easy

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-09 Other Terms of Payment

Topic: 04-11 Receipt-of-Goods (ROG) Dating

- An invoice for $4,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. What payment would settle the invoice on October 15?

A.$4,500.00

$4,432.50__B.__

C. $4,410.00

D. $4,590.00

E. $4,567.50

*Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-10 End-of-Month (EOM) Dating
*

- An invoice for $8,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. The company sent a cheque on September 12 for $2,500. How much is credited to their account?

A.$2,462.50

B. $2,500

C. $2,551.02

$2,537.50__D.__

E. $2,450

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $9,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. The company sent a cheque on September 12 for $5,000. What is their outstanding balance?

A.$4,000.00

B. $3,897.96

C. $3,900.00

D. $3,925.00

$3,923.86__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $75,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. The company sent a cheque on March 26 for $50,000. How much is credited to their account?

A.$49,000.00

B. $48,500.00

C. $50,000.00

$51,020.41__D.__

E. $51,546.39

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-08 Partial Payments
*

- An invoice for $7,000 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 10 for $3,000. What is the outstanding balance?

A.$3,940.00

B. $3,955.00

$3,938.78__C.__

D. $4,000.00

E. $3,954.31

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-10 End-of-Month (EOM) Dating
*

- An invoice for $10,000 dated September 10 with terms 3/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 11 for $4,000. What is the outstanding balance?

A.$5,940.00

B. $6,000.00

C. $5,918.37

$5,939.08__D.__

E. $5,920.00

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-10 End-of-Month (EOM) Dating
*

- A $7,350 invoice dated August 3 has payment terms of 4/10, 2/30, n/60. If the invoice is paid on August 20 how much must the payment be?

A.$7,497

B. $6,832

C. $6,615

D. $7,056

$7,203__E.__

Difficulty: Moderate

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice for $60,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. The company sent a cheque on March 26 for $40,000. What is their outstanding balance?

A.$20,000.00

B. $18,762.89

C. $19,200.00

D. $18,800.00

$19.183.67__E.__

Difficulty: Moderate

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- An invoice for $2,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. A payment of $1500 is made on October 20. How much is credited to the account?

A.$1,522.50

B. $1,530.61

C. $1,560.60

D. $2,537.50

$1,522.84__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-10 End-of-Month (EOM) Dating
*

- An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. A payment of $14,000 was made on April 14. How much was credited to the account?

A.$14,280.00

B. $14,420.00

C. $14,432.99

$14,285.71__D.__

E. $14,000.00

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- An invoice for $45,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. A payment of $30,000 was made on April 14. What is the outstanding balance?

A.$14,400.00

B. $14,100.00

C. $15,000.00

D. $14,072.16

$14,387.76__E.__

*Accessibility: Keyboard Navigation
Difficulty: Moderate
Gradable: automatic
Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice
Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies
Topic: 04-07 Terms of Payment
Topic: 04-09 Other Terms of Payment
Topic: 04-11 Receipt-of-Goods (ROG) Dating
*

- Parker Transport received a bill for $11,400 dated June 8 with payment terms of 3/15, n/45. What payment on June 22 would reduce the amount owing to $4,000?

$7,178__A.__

B. $7,058

C. $7,400

D. $3,880

E. $9,690

Difficulty: Moderate

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

- Mack the Mover received a bill for $7,490 dated April 17 with payment terms of 4/20, n/90. What payment on May 4 would reduce the amount owing to $2,500?

A.$4,990

B. $5,019

C. $5,992

D. $4,690

$4,790__E.__

Difficulty: Moderate

Gradable: automatic

Learning Objective: 04-03 Apply ordinary, end-of-month, and receipt-of-goods dating notation to problems involving terms of payment of an invoice

Learning Objective: 04-04 Calculate the amount of the cash discount for which a payment qualifies

Topic: 04-07 Terms of Payment

Topic: 04-08 Partial Payments

## Reviews

There are no reviews yet.