Accounting for Merchandising Business
Authored by John Monzon
Education, Other, Business
11th Grade
Used 577+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is a type of business that involves buying and selling of goods
Merchandising Business
Service Business
Manufacturing
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is the product or good that you are selling
Supplies
Cash
Inventory
Prepaid Expense
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is a discount that is not recorded in the books of seller or buyer
Cash Discount
Trade Discount
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
This type of merchandiser buys inventory in bulk
Wholesaler
Retailer
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Under periodic system, purchase of goods is recorded under the account title of
Merchandise Inventory
Sales
Purchases
Purchase Discount
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is used by businesses selling goods with different low-priced items
Perpetual System
Periodic System
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is used by businesses selling high-priced items
Perpetual System
Periodic System
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