Answer without explain

4. Blue Company on July 15 sells merchandise on account to Cherry Co. for OMR 1,000, terms 2/10, n/30. On July 20, Cherry Co. returns merchandise worth OMR 300 to Blue Company. On July 24, payment is received from Cherry Co. for the balance due. What is the amount of cash received? a) OMR 700. b) OMR 680. c) OMR 686 d) None of the above 5. A single-step income statement: a) reports gross profit. b) does not report cost of goods sold. c) reports sales revenues and Other revenues and gains in the revenues section of the income statement d) reports operating income separately. 6. Which of the following should not be included in the physical inventory of a company? a) Goods held on consignment from another company b) Goods shipped on consignment to another company. c) Goods in transit from another company shipped FOB shipping point. d) None of the above. 7. Accounts and notes receivable are reported in the current assets section of the balance sheet at: a) cash (net) realizable value b) net book value c) lower-of-cost-or-market value d) invoice cost 8. The purchase of supplies on account should result in: a) a debit to Supplies Expense and a credit to Cash. b) a debit to Supplies Expense and a credit to Accounts Payable. c) a debit to Supplies and a credit to Accounts Payable. d) a debit to Supplies and a credit to Accounts Receivable. 9. A trial balance: a) is a list of accounts with their balances at a given time. b) proves the mathematical accuracy of journalized transactions. c) will not balance if a correct journal entry is posted twice. d) proves that all transactions have been recorded. 10. Which of the following is not a step in the accounting process? a) Verification b) identification. c) recording. d) communication.