answer all questions plz

1. Net realizable value is the amount that we expect to receive in cash?

a. True

b. False

2. Net realizable value = Sales AR

a. True

b. False

3. Which method does not use the allowance account?

a. Direct write off

b. Allowance method

c. Both use the allowance account

4. Which method ages receivables to calculate bad debt expense?

a. Aging method

b. Allowance method

c. Percentage of credit sales

5. Which method calculates bad debt expense directly?

a. Aging method

b. Allowance method

c. Percentage of credit sales

6. Which type of inventory systems do we have?

a. Universal

b. Perpetual

c. Periodic

d. Both b and c

e. Both a and c

f. None of the above are correct

7. Which inventory method may require an adjustment to inventory?

a. Fifo

b. Lifo

c. Weighted average

d. Lower of cost or market

e. All of the above require an adjustment

8. Which method calculates bad debt expense directly

a. Percentage of receivables

b. Percentage of credit sales

c. Both

9. What is another name of the allowance account?

a. Bad debt expense

b. Uncollectible accounts

c. None of the above

10. What inventory method calculates COGS by taking Goods available / # of units

a. Fifo

b. Lifo

c. Weighted average

d. Lower of cost or market