Chap 5 part 1

Chap 5 part 1

12th Grade

55 Qs

quiz-placeholder

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 Chap 5 part 1

Chap 5 part 1

Assessment

Quiz

Specialty

12th Grade

Medium

Created by

11 Anh Phạm Hà Quyên

Used 1+ times

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55 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would not be considered a merchandising company?

Retailer

Wholesaler

Service firm

Dot Com firm

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A merchandising company that sells directly to consumers is a

retailer.

wholesaler.

broker.

service company.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two categories of expenses for merchandising companies are

cost of goods sold and financing expenses.

operating expenses and financing expenses.

cost of goods sold and operating expenses.

sales and cost of goods sold.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The primary source of revenue for merchandising companies is

investment income.

service fees.

the sale of merchandise.

the sale of fixed assets the company owns.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sales revenue less cost of goods sold is called

gross profit.

net profit.

net income.

marginal income.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After gross profit is calculated, operating expenses are deducted to determine

gross margin.

net income.

gross profit on sales.

net margin.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost of goods sold is determined only at the end of the accounting period in

a perpetual inventory system.

a periodic inventory system.

both a perpetual and a periodic inventory system.

neither a perpetual nor a periodic inventory system.

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