The total value of all items held in inventory for the firm valued at cost is which of the following?

A. Weeks supply of goods
B. Cost of goods to be sold
C. Inventory turnover
D. Average aggregate inventory value
E. None of these


Answer: D

Business

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Intranet stands for:

A) an internal net normally used within the boundaries of the company. B) a net that includes all who are connected to it. C) a net shared by two or more companies. D) an external net that can be used by all people.

Business

The owners of a limited liability company are called shareholders.

Answer the following statement true (T) or false (F)

Business

What can you do if your budget shows an annual budget deficit?

A. You can liquidate investments to meet the total budget shortfall. B. You can increase low-priority expenses on the budget. C. You can invest more in real estate/personal estate. D. You can discourage additional borrowing. E. You can shift expenses from the surplus months to the deficit months.

Business

On March 1, 20X8, Wilson Corporation sold goods for a U.S. dollar equivalent of $31,000 to a Thai company. The transaction is denominated in Thai baht. The payment is received on May 10. The exchange rates were:  March 1:1 baht =$0.031 May 10:1 baht = 0.034 What entry is required to revalue foreign currency payable to U.S. dollar equivalent value on May 10?  A.Accounts Receivable (baht)93  Foreign Currency Transaction Gain 93B.Accounts Receivable (baht)3,000  Foreign Currency Transaction Gain 3,000C.Foreign Currency Transaction Loss3,000  Accounts Receivable (baht) 3,000D.Sales93  Foreign Currency Transaction Gain 93

A. Option A B. Option B C. Option C D. Option D

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