
SPEED TEST
Authored by Kart Lagustan
Business
University
Used 2+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Carl purchased P50,000 merchandise from the Sartre with terms of 3/10, n/30. How much discount is Carl entitled to take if it paid within the allowed discount period of 10 days?
500
1,000
1,500
3,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cormack purchased merchandise with a list price of P60,000 from the Murray. Murray offers its customers credit terms of 2/10, n/30. What amount should Cormack pay if the cash discount is taken?
P59,400
b. P60,600
c. P61,200
d. P58,800
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a reason for sales discounts to be offered to the debtors?
increase the amount paid by the debtors
improve the liquidity by turning the accounts receivable into cash
encourage earlier settlement of debts by debtors
reduce the level of bad debts
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A trade discount is:
shown in the sales journal.
shown in the purchase journal.
shown in the general journal.
not shown anywhere.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sale on March 21 with terms of n/10 eom is due to be collected by
March 31
April 1
April 10
April 30
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The entry to record the return of goods from a customer would include a
credit to Sales.
credit to Sales Returns and Allowances.
debit to Sales.
debit to Šales Returns and Allowances.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Merchandise inventory becomes part-of cost of goods sold when an entity
pays for the inventory.
purchases the inventory.
receives payment from the customer.
sells the inventory.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Basics of Accounting
Quiz
•
University
10 questions
PFM7 - Stock Valuation part 2 DCF Analysis Quiz
Quiz
•
University
10 questions
NPV
Quiz
•
University
10 questions
Environment of management
Quiz
•
University
10 questions
Seneca- chapter 10
Quiz
•
University
10 questions
MBSA 2313 - Business Modeling
Quiz
•
University - Professi...
10 questions
Forecasting Techniques
Quiz
•
University
10 questions
Service Marketing
Quiz
•
University
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade
Discover more resources for Business
12 questions
IREAD Week 4 - Review
Quiz
•
3rd Grade - University
23 questions
Subject Verb Agreement
Quiz
•
9th Grade - University
7 questions
Force and Motion
Interactive video
•
4th Grade - University
7 questions
Renewable and Nonrenewable Resources
Interactive video
•
4th Grade - University
5 questions
Poetry Interpretation
Interactive video
•
4th Grade - University
19 questions
Black History Month Trivia
Quiz
•
6th Grade - Professio...
15 questions
Review1
Quiz
•
University
15 questions
Pre1
Quiz
•
University