IDIS 240 FINAL EXAM UPDATED ACTUAL 2026/2027 ||
INFORMATION SYSTEMS & DATA MANAGEMENT REVIEW
|| VERIFIED QUESTIONS & ANSWERS || HIGH-YIELD STUDY
GUIDE || COMPLETE TEST BANK || 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
Interest Expense - CORRECT ANSWER -Not part of operating cost
NPBT - CORRECT ANSWER -Net profit before taxes
NPAT - CORRECT ANSWER -Net profit after taxes
, Accounts payable - CORRECT ANSWER -Money the distributor owes the
manufacturer
Accounts Receivable - CORRECT ANSWER -money the customer owes us
Days Sales Outstanding - CORRECT ANSWER -Receivable Dollars *
(365/sales)
Inventory - CORRECT ANSWER -What we have on hand to sell
Inventory Turn - CORRECT ANSWER -= (COGS from inventory /
Average Warehouse Inventory)
Gross Margin Return on Inventory Investment (GMROII) - CORRECT
ANSWER -= (Gross Margin Dollars Earned on Warehouse Sales/ Average
Warehouse inventory)
COGS - CORRECT ANSWER -= Cost of Merchandise + Freight from
Manufacturer
FOB Destination - CORRECT ANSWER -manufacturer pays for the freight
FOB Shipping Point - CORRECT ANSWER -distributor pays for the
freight
Cost of Merchandise - CORRECT ANSWER -Trade Discounts
Trade Pricing
INFORMATION SYSTEMS & DATA MANAGEMENT REVIEW
|| VERIFIED QUESTIONS & ANSWERS || HIGH-YIELD STUDY
GUIDE || COMPLETE TEST BANK || 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
Interest Expense - CORRECT ANSWER -Not part of operating cost
NPBT - CORRECT ANSWER -Net profit before taxes
NPAT - CORRECT ANSWER -Net profit after taxes
, Accounts payable - CORRECT ANSWER -Money the distributor owes the
manufacturer
Accounts Receivable - CORRECT ANSWER -money the customer owes us
Days Sales Outstanding - CORRECT ANSWER -Receivable Dollars *
(365/sales)
Inventory - CORRECT ANSWER -What we have on hand to sell
Inventory Turn - CORRECT ANSWER -= (COGS from inventory /
Average Warehouse Inventory)
Gross Margin Return on Inventory Investment (GMROII) - CORRECT
ANSWER -= (Gross Margin Dollars Earned on Warehouse Sales/ Average
Warehouse inventory)
COGS - CORRECT ANSWER -= Cost of Merchandise + Freight from
Manufacturer
FOB Destination - CORRECT ANSWER -manufacturer pays for the freight
FOB Shipping Point - CORRECT ANSWER -distributor pays for the
freight
Cost of Merchandise - CORRECT ANSWER -Trade Discounts
Trade Pricing
