Inventories

Inventories

University

11 Qs

quiz-placeholder

Similar activities

Marketing Basics 1

Marketing Basics 1

University

10 Qs

Housekeeping & Sustainability

Housekeeping & Sustainability

University

10 Qs

Quantitative Regulations

Quantitative Regulations

University

10 Qs

Science Report 1 - Summary

Science Report 1 - Summary

University

15 Qs

Service Management: Intro 1

Service Management: Intro 1

University

10 Qs

CHP 3: SHORT RUN COSTS

CHP 3: SHORT RUN COSTS

University

16 Qs

C5 : SET 3 - PRODUCTION THEORY

C5 : SET 3 - PRODUCTION THEORY

University

10 Qs

AFIOTR Basic

AFIOTR Basic

6th Grade - University

14 Qs

Inventories

Inventories

Assessment

Quiz

Other

University

Hard

Created by

Thembelihle Zulu

Used 3+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Inventories fall under the which heading in the Statement of Financial Position?

Liabilities

Non-current assest

current assets

Equity

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following constitute as Inventories?

Only finished Goods

Only goods in Production(Work in Progress)

Finished goods,goods in production(work in progress) and raw materials

raw materials only

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

cost price of inventories excludes VAT but includes discount?

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Cost of conversion is made up of:

Direct labour costs and Overheads

Direct labour costs and Overheads

Direct labour costs and manufacturing Overheads

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a periodic inventory system, purchase of raw materials is recorded as purchases

True

False

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In a periodic inventory system, delivery costs form part of purchases

True

False

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The Cost of Sales account when goods are sold under the periodic inventory system only exists at year end

True

False

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?