Part 58

26. What is the difference between a bull and a bear?

27. Explain the meaning of a buying order and state how it should be treated in the accounting department.

28. On July 5th James Robinson sold 25,000 bushels of September wheat at 1.04½; on July 10th he purchased 10,000 bushels wheat at 1.02¼, and on July 11th he purchased 15,000 bushels of wheat at 1.02. Make a statement of this account for Mr. Robinson.

29. What is the difference between listed and unlisted stock?

30. What is a debit or credit slip and for what purpose is it used?

31. Show the ruling of the stock ledger and explain the necessity of each column. Rule a sample page.

32. For what purpose is the journal used in connection with the brokerage business?

33. Explain the meaning of buyer's option.

34. Explain the meaning of carrying charges.

35. Explain the meaning of a put and a call.

REVIEW QUESTIONS ON THE SUBJECT OF BILLING AND ORDER RECORDING

1. Explain the difference in principle between the cylinder billing machine and the flat-bed billing machine.

2. Explain the meaning of manifolding.

3. Explain in your own language why the plan of copying invoices in tissue books with a letter press is inferior to the billing-machine method of typewriting the invoice and sales sheet simultaneously.

4. If an office boy mailed a pen-written invoice without copying same in the tissue book, what method would enable the firm to detect such oversight?

5. What is the difference between the style of invoice used on flat-bed machines and on cylinder machines?

6. When a concern uses two ledgers on account of having too many customers to be conveniently held in one ledger, what change is advisable in ruling the columns of the sales sheet?

7. What plan is used in classifying sales according to territory, salesmen, etc.; and what means is used to prove the footings of each page?

8. How much of the left side of the sales sheet do you understand is covered by the invoice when they are both in the machine for the purpose of making the bill and charge?

9. How do you classify with the machine the amounts of the bills in the columns to the right of the total column?

10. Name all of the reasons you can, whether included in the textbook or not, for making duplicate invoices.

11. Explain why some firms are enabled to make their invoices (and, of course, sales sheets) before the goods are shipped, and give reasons why other firms are forced to wait until after the order has been shipped, or at least partially shipped, before making invoices.

12. Explain what plan you would use to inform the packer of the description of the goods to be shipped, but prevent him from knowing the quantities, in order to further prevent him from double-checking the figures showing quantities and at the same time neglecting to count the articles.

13. Where the firm sells three or four classes of goods and wishes to keep a continuous record of the tonnage sold, that is, weight of the various classes of goods, how would you rule the invoice and sales sheet in order to shorten the billing?

14. If you were forced to substitute one size of an article in place of another size ordered (without injury to the customer), how would you design your forms in order to enable you to typewrite the size shipped and size ordered on the sales sheet, and size ordered, only, on the invoice?

15. If you wish to typewrite a requisition for goods ordered at the time the invoice and sales sheet are written, how would you arrange it?

16. What is the difference between the terms unit billing and condensed billing? Under what conditions would you recommend unit billing and when condensed billing?

17. What is the best plan of facilitating the filling of orders where there are a large number of floors or departments and where each day's orders are supposed to be filled upon the day the orders are received?