75%(4)3 out of 4 people found this document helpful
This preview shows page 8 - 10 out of 10 pages.
Horngren, C., Harrison W. &Oliver, M. (2012). Accounting (9th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. ACC 205 Week 3 Quiz (10 Multiple Choice)These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 3/3/2012Time Spent:4 h , 34 min , 38 secs Points Received:9 / 10 (90%) Question Type:# Of Questions:# Correct:True/False22Multiple Choice87Grade Details
1.Question :The following data is available:Net sales, first month $13,000Normal gross profit45%Beginning inventory8,000Net purchases7,000Using the gross profit method, the Cost of goods sold would be:Points Received:1 of 1 Comments:2.Question :Which of the following assets does a merchandising company—but NOT a service company—need?Points Received:1 of 1 Comments:1783945613MultipleChoice19True01783945613MultipleChoice191783945614MultipleChoiceTrue017839456141