Nguyên Lý Kế Toán TDTU

The product cost includes :

• Direct material cost, direct labour cost, overhead cost

• Direct material cost, direct labour cost, overhead cost, selling expenses

• Direct material cost, direct labour cost, overhead cost, administration expenses

• Direct material cost, direct labour cost, overhead cost, selling expenses, administration expenses

Carlton Construction Company sold a home that it built for a total cost of $150,000 for a sales price of $250,000. The journal entries to record the sales revenue and cost of the sale would include:

• A debit to Cost of Goods Sold for $150,000

• A credit to Finished Goods for $150,000

• A debit to Sales Revenue for $250,000

• A and B

A set of accounts is called a:

• Trial balance

• Spreadsheet

• Balance sheet

• General ledger

The perpetual inventory method has the advantage over the periodic system in that:

• A physical count is not required

• Inventory shortages is not eliminated

• There are lower operational costs

• Details relating to the number of items on hand are readily available

The inventory costing method selected by a company can affect:

• The balance sheet

• The income statement

• Both statements

• Neither statement

A $10 000 receipt was received from an accounts receivable, as a result:

• An asset decreased and an expense decreased

• A liability decreased and an expense increased

• An asset decreased and an expense increased

• An asset decreased and another asset increased

Inventory is purchased on credit:

• One asset increases and another asset decreases

• An asset increases and a liability increases

• An asset decreases and a liability decreases

• An asset decreases and owners' equity decreases

The formula of ROA is

• Net profit before tax/ General Assets

• Net profit after tax/ General Assets

• Net profit before tax/ Average Assets

• Net profit after tax/ Average Assets

The combination of Selling Expenses and Administrative Expenses is referred to as

• Operating Expenses

• General Expenses

• Total Expenses

• Other Expenses

Net Sales minus the Cost of Goods Sold equals

• Net Income

• Income From Operations

• Other income

• Gross Profit