1)For proper internal controls over issuing merchandise, who should maintain perpetual inventory records of finished goods? (Points : 1)

Accountant Inventory manager Storekeeper Warehouse manager

2)

What type of intangible asset describes when the price paid in acquisition exceeds the fair value of the net assets acquired? (Points : 1)

Franchise Goodwill Leasehold Trademark

3)

For proper controls over purchasing, which condition is optional for issuing a purchase order? (Points : 1)

Determining that the item is necessary Obtaining competitive bids Obtaining financial department approval Proving the item has consumer demand

4) Which step in calculating the overall reasonableness test for annual depreciation is incorrect? (Points : 1)

Add one-half of the asset additions. Add one-half of the salvage values. Deduct all fully depreciated assets. Subtract one-half of the asset retirements.