Scott purchased a shovel, a rake, and a wheelbarrow from The Local Hardware Store yesterday.

Scott purchased a shovel, a rake, and a wheelbarrow from The Local Hardware Store yesterday. Today, the store issued a bill for these items and mailed it to Scott. What is the name given to this bill?    A.  ledger statement B.  warranty C.  indenture D.  receipt E.  invoice Refer to section 20.2

6.	Geoff Industries offers its credit customers a 2 percent discount if they pay within 10 days. This discount is referred to as a:    A.  cash discount. B.  purchase discount. C.  collection discount. D.  market discount. E.  receivables discount. Refer to section 20.2

7.	Any written proof that a customer owes you money for goods or services provided is referred to as a(n):    A.  account document. B.  sales draft. C.  credit instrument. D.  commercial paper. E.  letter of debt. Refer to section 20.2

8.

You are viewing a graph which compares costs with the amount of credit extended. Both the carrying costs and the opportunity costs of credit are depicted. What is the function called that represents the summation of these carrying and opportunity costs?    A.  opportunity cost curve B.  credit extension curve C.  credit cost curve D.  terms of sale graph E.  optimal sales graph Refer to section 20.4