IDIS 240 FINAL EXAM – VESTAL
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS | LATEST
2024-2025 // ALREADY GRADED A+
Cash Flow - CORRECT ANSWER-Cash in bank > purchased
inventory > sold inventory > accounts receivable > cash in bank
List Price - CORRECT ANSWER-The retail price listed
selling price - CORRECT ANSWER-list price - trade
discounts
Net price - CORRECT ANSWER-= selling price - allowable
discounts (cash discounts)
,Net Sale
Cost of Good Sold (COGS) - CORRECT ANSWER-= Cost of
Merchandise + Freight from Manufacturer
Trade Discounts - CORRECT ANSWER-specify term of
sale and change of price with how they see fit.
Cash Discounts - CORRECT ANSWER-given to encourage
buyers to promote payment promptly.
Special Orders - CORRECT ANSWER-instructions given by
the buyer on how to deliver or manufacture the order.
Minimum Order vs. Freight Allowed - CORRECT ANSWER-
Minimum order:
The minimum amount you can order from a manufacturer
Freight Allowed:
, manufacture pays for the shipping and just adds to the cost.
Claims - CORRECT ANSWER-request for payment from the
insurance company to cover financial losses.
Returns - CORRECT ANSWER-goods returned to the
business that sold them
Operating Expense (OE) - CORRECT ANSWER-all costs
needed to provide necessary services.
SG&A - CORRECT ANSWER-Selling, General and
Administrative Expense
EBITDA: Earnings before interest, Taxes, depreciation, and
amortization - CORRECT ANSWER-= Margin - OE - SG&A
EBIT - CORRECT ANSWER-EBITDA - Depreciation and
Amortization
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS | LATEST
2024-2025 // ALREADY GRADED A+
Cash Flow - CORRECT ANSWER-Cash in bank > purchased
inventory > sold inventory > accounts receivable > cash in bank
List Price - CORRECT ANSWER-The retail price listed
selling price - CORRECT ANSWER-list price - trade
discounts
Net price - CORRECT ANSWER-= selling price - allowable
discounts (cash discounts)
,Net Sale
Cost of Good Sold (COGS) - CORRECT ANSWER-= Cost of
Merchandise + Freight from Manufacturer
Trade Discounts - CORRECT ANSWER-specify term of
sale and change of price with how they see fit.
Cash Discounts - CORRECT ANSWER-given to encourage
buyers to promote payment promptly.
Special Orders - CORRECT ANSWER-instructions given by
the buyer on how to deliver or manufacture the order.
Minimum Order vs. Freight Allowed - CORRECT ANSWER-
Minimum order:
The minimum amount you can order from a manufacturer
Freight Allowed:
, manufacture pays for the shipping and just adds to the cost.
Claims - CORRECT ANSWER-request for payment from the
insurance company to cover financial losses.
Returns - CORRECT ANSWER-goods returned to the
business that sold them
Operating Expense (OE) - CORRECT ANSWER-all costs
needed to provide necessary services.
SG&A - CORRECT ANSWER-Selling, General and
Administrative Expense
EBITDA: Earnings before interest, Taxes, depreciation, and
amortization - CORRECT ANSWER-= Margin - OE - SG&A
EBIT - CORRECT ANSWER-EBITDA - Depreciation and
Amortization
