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BUSN 212-CH6

Authored by Nada Almutairi

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University

Used 4+ times

BUSN 212-CH6
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A service business provides a service like dry cleaner

false

true

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

merchandising business sells goods like grocery.

false

true

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Operating cycle in Merchandising Businesses

is shorter than Operating cycle in service business

false

true

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select the operating cycle

reductions from the list price and are not recorded in the accounts

Sales of merchandise inventory for cash or on credit

Collection of cash from credit sales

Purchase of merchandise inventory for cash or credit

Payment for purchases made on credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

how many inventory system do we have ?

zero

four

two

six

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

___________ Inventory records are updated with every purchase and every sale

Sales discounts

Periodic inventory system

Perpetual inventory system

Trade discounts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

___________ Inventory records are updated only at the end of the period when a physical count is taken

Sales discounts

Periodic inventory system

Perpetual inventory system

Trade discounts

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