A deposit that was made but not yet available.

Only records the sale, adjusts inventory at the end.

The three methods of selling inventory

Assign each task to only one employee.

Cash or Account Receivable
Sales Revenue

A subtraction on the book side for a service charge.

Numbers that identify when a discount can be given and when the payment is due

Best way to avoid taxes in a rising economy

Do not provide access to assets or information unless it is needed to fulfill assigned responsibilities.

Account Payable
Cash
Inventory

Establish, Use, or Reestablish

Shipping the buyer is responsible for.

The system used for perishable goods.

Incentive, rationalization, and opportunity

Cash
Sales Discount
Account Receivable

An accessible store of money kept by an organization for expenditure on small items.

Sales

Sales revenue subtracted by cost of goods sold

Do not make one employee responsible for all parts of a process.

Inventory
COGS

The process of comparing two sets of records.

BB Inventory
+Purchases

Profit is lower when the economy is falling

When an employee has a means of committing fraud.

Cash or Accounts Payable
Inventory