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Can I get help with the following multiple choice questions id uly the correct answer (40 Points) 1. A business form that indicates a departments'request
Can I get help with the following multiple choice questions
id uly the correct answer (40 Points) 1. A business form that indicates a departments'request to purchase supplies is: a. A purchase requisition b. A purchase order c. A Receiving Report d. A Check Request 2. A business form that indicates a departments' approval to purchase supplies is a. A purchase requisition b. A purchase order c. A Receiving Report d. A Check Request 3. The account used to record the cost of shipping merchandise is a. Merchandise inventory b. Cost of goods sold c. Freight in d. Shipping expense 4. When a business returns goods to the seller, they need to debit a. the purchases account b. the subsidiary ledger for that supplier c. accounts payable and the subsidiary ledger for that supplier 7d. the purchases account and the accounts payable account. 5. Purchase discounts are calculated based on a. cost of purchase b. cost of purchase less any returns and allowances c. cost of purchases less and returns and allowances plus freight-in d. cost of purchases less freight in 6. A company's Net Sales is $120,000; Cost of Goods Sold is $37,000; Selling expenses are $25,000; Administrative Expenses are $29,000; and Interest Income is $3,000. How much is net income from operations? a. $29,000 b. $32,000 c. $83,000 d. $123,000 7. A post closing trial balance is best prepared from a. the general ledger b. the general journal c. the financial statements d the worksheet Step by Step Solution
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