Free Exam: 11.3 Homework Check
Number of Questions in Test: 20
Number of Questions in Preview: 5
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Review Question 1;
Which of the following are the new accounts that appear a worksheet of a Merchandising Company?
Which of the following are the new accounts that appear a worksheet of a Merchandising Company?
| Type: | Multiple response |
| Points: | 1.5 |
| Randomize answers: | Yes |
Question 2
Review Question 4:
A physical inventory must be taken & valued before the work sheet can be completed.
A physical inventory must be taken & valued before the work sheet can be completed.
| Type: | True/False |
| Points: | 1 |
Question 3
Review Question 5:
The BEGINNING INVENTORY amount is placed on the _____________ side of the Income Statement on the Worksheet.
The BEGINNING INVENTORY amount is placed on the _____________ side of the Income Statement on the Worksheet.
| Type: | Multiple choice |
| Points: | 1 |
| Randomize answers: | Yes |
Question 4
Review Question 7:
The Purchases account is placed on the __________ side of the income statement of the worksheet.
The Purchases account is placed on the __________ side of the income statement of the worksheet.
| Type: | Multiple choice |
| Points: | 1 |
| Randomize answers: | Yes |
Question 5
Review Question 11:
When performing the closing entries, you must include both the Beginning & Ending Inventories in this process.
When performing the closing entries, you must include both the Beginning & Ending Inventories in this process.
| Type: | True/False |
| Points: | 1 |