Angelo balus

Witch business firm derive its revenue from the resale of merchandise it originally procures from suppliers?

• Manufacturing

• Servicing

• Merchandising

Service Income ; Servicing sales;

• Manufacturing

• Merchandising

• Servicing

Buying;Purchases;Selling_____

• cash

• sales

• official receipt

• trading

Debit; Sales discount; Credit______

• Purchases allowances

• Purchase Return

• Purchase Discount

you grant a cash discount to your customer, how will you record it?

• debit account receivable; credit purchase discount

• debit account receivable; credit sales discount

• debit purchase discount; credit acount receivable

• debit sales discount; credit account receivable

periodic and perpetual inventory system differ only in buying activities.

• True

• False

what inventory system is used by merchandising firms selling a limited number of product of relatively high value like: Appliances, equipment alike?

• Periodic Inventory System

• Perpetual Inventory System

Witch inventory system is also nkown as "Book inventory System"

• Periodic Inventory System

• Perpetual Inventory system

How to compute for a cost of sale?

• Total merchandise available for sale less merchandise inventory end

• Total merchandise available for sale add merchandise inventory end

The merchandise inventory beggining is added to ____ in order to get the total merchandise available for sale

• cost of sale

• gross purchase

• merchandise inventory end

• net purchases