Question 61
Which of the follov5ring is used in determining the economic order quantity ECQ)?
Question 62
A mail-order retailer of low-cost novelty items is receiving an increasing number of
complaints from customers about the wrong merchandise being shipped. The order code for items has the format The major category is ww, xx is the minor category, yy identifies the item, and zz identifies the catalog. In many cases, the wrong merchandise was sent because adjacent characters in the order code had been transposed. The best control for decreasing the number of orders with the wrong merchandise is to:
Question 63
An entity has appropriately used the installment method of accounting sit began operations at the beginning of the current year. The following information pertains to its operations for this year:
The amount of gross profit deferred at the end of the current year should be:
Question 64
An entity purchased US $1 .000 gross amount of inventory on account with terms of 2 f discount if paid within 10 days. The seller was responsible for delivery to the shipping point, with freight of US $30 prepaid by the seller. The entity records purchases at the net amount. The journal entry to record payment 8 days after the invoice date is:
Question 65
All of the following are alternative marketable securities suitable for investment except: