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?