2543317
Descripción
Test por Claudia Voin, actualizado hace más de 1 año
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Creado por Claudia Voin
hace más de 9 años
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Pregunta 1
Pregunta
When goods are purchased for resale by a company using a periodic inventory system
Respuesta
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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
Pregunta 2
Pregunta
In determining cost of goods purchased
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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
Pregunta 3
Pregunta
Which of the following should not be included in the physical inventory of a company
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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
Pregunta 4
Pregunta
If beginning inventory is 60 000, cost of goods purchased is 380 000, and ending inventory is 50 000. CoGS=?
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330k
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370k
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390k
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420k
Pregunta 5
Pregunta
A multiple step income statement in a periodic inventory system differs from that in a perpetual inventory system because it has
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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
Pregunta 6
Pregunta
FOB shipping point indicates that
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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
Pregunta 7
Pregunta
Current ratios for four companies are provided below, Select the current ratio of the company in the best position
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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
Pregunta 8
Pregunta
Inventory turnover stats for four companies are provided below. Select the inventory turnover of the company in the best position
Respuesta
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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
Pregunta 9
Pregunta
Which of the following would be considered a selling expense?
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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
Pregunta 10
Pregunta
In a periodic inventory system, cost of goods sold is recorded
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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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