E2a_cw0-1 - Title: E2a Started: Submitted: Timespent:...

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Title: E2a Started: March 30, 2010 11:23 AM Submitted: March 30, 2010 11:23 AM Time spent: 00:00:11  Total score: 0/40 = 0%   Total score adjusted by 0.0  Maximum possible score: 40  1.   A buyer did not take advantage of a supplier's credit terms of 2/10, n/30, and instea taking the discount the buyer lost the equivalent of 18% annual interest on the amo   Student  Response Value Correct Answer Feedback A.  TRUE 0%       B.  FALSE      Score: 0/2    2.   A credit memorandum from a seller informs a buyer of the seller's credit to its Acco allowance.    Student  Response Value Correct Answer Feedback A.  TRUE      B.  FALSE      Score: 0/2    3.   Gross profit:    Student  Response Value Correct Answer Feedback A.  Is also called  gross margin.      B.  Less other  operating  expenses  equals income  from operations.      C.  Equals net  sales less cost  of goods sold.      D.  Must cover all  operating  expenses to  yield a return for  the owner of the  business.     
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  Student  Response Value Correct Answer Feedback E.  All of these.      Score: 0/2    4.   A company's current assets were $17,980, its quick assets were $11,420 and its cu   Student  Response Value Correct Answer Feedback A.  0.94.      B.  1.07.      C.  1.48.      D.  1.57.      E.  2.40.      Score: 0/2    5.   A company purchased $1,800 of merchandise on December 5. On December 7, it  paid the balance in full, taking a 2% discount. The amount of the cash paid on Dec   Student  Response Value Correct Answer Feedback A.  $200.      B.  $1,564.      C.  $1,568.      D.  $1,600.      E.  $1,800.      Score: 0/2    6.   On October 1, Mutch Company sold merchandise in the amount of $5,800 to Carr  items sold is $4,000. Mutch uses the perpetual inventory system. On October 4, C the merchandise is $500 and the cost of the merchandise returned is $350. The en   Student Response A. 
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  Student Response B.  C.  D.  E.  Score: 0/2    7.  
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This note was uploaded on 02/15/2012 for the course ENGLISH 100 taught by Professor Sarah during the Spring '07 term at California State University Los Angeles .

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E2a_cw0-1 - Title: E2a Started: Submitted: Timespent:...

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