Question 1 sometimes a retailer will not accept american, Ask an Expert

Accounting

Question: 1. Sometimes a retailer will not accept American Express, but will accept MasterCard or VISA. Why would a retailer accept one and not the other?

2. Assume that you purchased merchandise with credit terms 2/10, n/30. On the date the invoice is due, you don't have the cash to pay the invoice. However, you can borrow the necessary money at an 8% annual interest rate. Should you borrow the money to pay the invoice? Explain.

3. Can a business earn a gross profit but incur a net loss? Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336311

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