Question
1. Under which cost flow assumption would the statement of earnings normally report outdated cost of sales? O a. Weighted-average cost O b. Specific identification
1.
Under which cost flow assumption would the statement of earnings normally report
outdated cost of sales?
O a. Weighted-average cost
O b. Specific identification
O c. FIFO
O d. None of the other answers
2.
The account Allowance for Doubiful Accounts is considered
0 a
an accounts receivable contra account
O b. a current liability
6 6.
a contra revenue account
0 d
a selling expense account
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
