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Question(s) / Instruction(s):

1.)Rounding approximates actual answers.
A.)True
B.)False
2.)Cancellation is a technique to reduce fractions to lowest terms.
A.)True
B.)False
3.)Those making partial payments are not allowed to take a cash discount.
A.)True
B.)False

4.)Sellers catalogs only list the net price.
A.)True
B.)False

5.)A cash discount is sometimes taken on the amount of trade discount.
A.)True
B.)False

6.)Trade discounts are sometimes taken on freight.
A.)True
B.)False

7.)Photocopies of front and back checks are acceptable evidence of payment for courts as well as IRS audits.
A.)True
B.)False

8.)An endorsement may be in writing or by the use of a company stamp.
A.)True
B.)False

9.)All checks are required to have a preprinted check number.
A.)True
B.)False

10.) If there are two unknowns, the variable is always assigned the larger value.
A.)True
B.)False

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