Merchandising bingo

Exercise and reference answers

Clues and terms

1. Clue

   Sells no inventory.

   Item

   Service firm

2. Clue

   Cash out to cash in.

   Item

   Op cycle

3. Clue

   Sales less cost of goods.

   Item

   Gross margin

4. Clue

   Pay early, pay less.

   Item

   2/10 n/30

5. Clue

   Issued on a return.

   Item

   Credit memo

6. Clue

   Offsets the sales account.

   Item

   Contra revenue

7. Clue

   Updates every sale.

   Item

   Perpetual

8. Clue

   Updates on a schedule.

   Item

   Periodic

9. Clue

   Buyer pays freight.

   Item

   FOB shipping

Instructions

Read each clue and tap the term it describes.

Explanation