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Subject:AccountingPrice: Bought3
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1. |
Under a perpetual inventory system, acquisition of merchandise for resale is debited to |
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A) |
the Merchandise Inventory account. |
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B) |
the Purchases account. |
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C) |
the Supplies account. |
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D) |
the Cost of Goods Sold account. |
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2. |
The primary source of revenue for a wholesaler is |
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A) |
investment income. |
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B) |
service revenue. |
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C) |
the sale of merchandise. |
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D) |
the sale of plant assets the company owns. |
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3. |
Under the perpetual inventory system, in addition to making |
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