11. Prepare trading and profit and loss accounts representing the transactions listed in Art. 16, Pages 28 to 31, inclusive.
12. How can an order record be used as a sales record? Why is an abstract of sales used in connection with such sales records? Explain how this abstract is made up.
13. If goods are sold at f. o. b. prices, but the freight is prepaid as an accommodation to the customer, how should it be treated on the books? Why?
14. Name three or more subdivisions of sales expense, and explain what items are properly included in each.
15. Why are check registers taking the place of the old style check book? When a check register is used, how are the checks kept?
16. What is a cash received book, and for what purpose is it used?
17. Complete the exercise given at the end of Art. 29, Page 42.
18. What is your understanding of the meaning of the terms _commission_ and _brokerage_? What is the distinction between a commission merchant and a merchandise broker?
19. What is a manufacturer's agent, and how does his business differ from that of a commission merchant or broker?
20. By what term is a consignment of goods to a broker known on the books of the shipper? In what name is an account opened to represent the consignment?
21. How is the above account made up? When is the account closed, and to what account is the balance transferred?
22. What is an _account sales_? When an account sales is received without a remittance, what account should be opened, and what does it represent?
23. When a broker receives a shipment of goods to be sold on commission, by what name is it known on his books? In what name is an account opened?
24. If a broker renders an account sales without a remittance, to what account should he credit the net proceeds? Why?
25. If a broker has on hand any unsold consignments when his books are closed, do the accounts represent assets or liabilities? How would you determine the broker's liabilities on account of consignments?
26. Name the books used by a produce shipper, and explain how each is used.
27. What is a _shipment ledger account_, and how is it made up? What is a _profit and loss on shipments account_?
28. In what way does the journal used by a shipper differ from the one used by the average merchant?