ACCT 212 Week 4 Quiz | Assignment Help | Devry University
- Devry University / ACCT 212
- 10 Sep 2018
- Price: $5
- Other / Other
ACCT 212 Week 4 Quiz | Assignment Help | Devry University
Question
1
3 / 3 pts
(TCO 4)
The financial statements of a merchandising company will show
Question
2
3 / 3 pts
(TCO 4)
The cost of inventory that is still on hand and has not been sold to customers
is called
Question
3
3 / 3 pts
(TCO 4)
The inventory system that uses computer software to keep a running record of
inventory on hand is the
Question
4
3 / 3 pts
(TCO 4)
All of the following costs would be included in inventory except for
Question
5
3 / 3 pts
(TCO 4)
If the cost to purchase a unit of inventory does not change, ending inventory
Question
6
3 / 3 pts
(TCO 4)
To determine the average cost per unit
Question
7
3 / 3 pts
(TCO 4)
When inventory prices are falling, the LIFO costing method will generally
result in
Question
8
3 / 3 pts
(TCO 4)
The disclosure principle requires that management prepare financial reports
that disclose all of the following types of information except
Question
9
3 / 3 pts
(TCO 4)
The lower-of-cost-or-market rule requires a company to report inventories at
the lower of
Question
10
3 / 3 pts
(TCO 4) A
gross profit margin of 30% means that
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