2543317
Beschreibung
Quiz von Claudia Voin, aktualisiert more than 1 year ago
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Erstellt von Claudia Voin
vor mehr als 9 Jahre
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Frage 1
Frage
When goods are purchased for resale by a company using a periodic inventory system
Antworten
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purchases are debited to Merchandise Inventory
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purchases are debited to Purchases
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purchase returns are debited to Purchases R&A
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freight costs are debited to Purchases
Frage 2
Frage
In determining cost of goods purchased
Antworten
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beginning inventory is added to net purchases
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freight out is added to net purchases
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purchase R&A are deducted from net purchases
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freight in is added to net purchases
Frage 3
Frage
Which of the following should not be included in the physical inventory of a company
Antworten
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goods held on consignment from another company
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goods shipped on consignment from another company
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goods in transit purchased from a manufacturer shipped FOB shipping point
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none of the above
Frage 4
Frage
If beginning inventory is 60 000, cost of goods purchased is 380 000, and ending inventory is 50 000. CoGS=?
Antworten
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330k
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370k
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390k
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420k
Frage 5
Frage
A multiple step income statement in a periodic inventory system differs from that in a perpetual inventory system because it has
Antworten
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a detailed cost of goods section
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net sales
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gross profit
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operating expenses
Frage 6
Frage
FOB shipping point indicates that
Antworten
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there are no shipping charges involved
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the seller and the purchaser split shipping charges
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the seller will record shipping charges on their books
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the purchaser will record shipping charges on their books
Frage 7
Frage
Current ratios for four companies are provided below, Select the current ratio of the company in the best position
Antworten
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1.31:1
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2.10:1
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2.30:1
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0.44:1
Frage 8
Frage
Inventory turnover stats for four companies are provided below. Select the inventory turnover of the company in the best position
Antworten
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4.57 times
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2.10 times
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10.92 times
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8.44 times
Frage 9
Frage
Which of the following would be considered a selling expense?
Antworten
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Freight In
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Amortization Expense - Display Fixtures
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Amortization Expense - Office Equipment
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Loss on Sale of Display Fixtures
Frage 10
Frage
In a periodic inventory system, cost of goods sold is recorded
Antworten
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on a daily basis
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on a monthly basis
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on an annual basis
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with each sale
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