Provide me some questions regarding Accounting for the Sale of Goods i have given examples below what type of question i want the tipics are these please do not explain these i just want questions For my exam

The Basics of Merchandising, Perpetual inventory system, The Purchase and Payment of Merchandise Inventory (Perpetual) Transportation Trade discounts 5.3 Merchandise Inventory: Sales and Collection (Perpetual), Sales Discounts

5.4 Adjustments to Merchandise Inventory (Perpetual) 5.5 Merchandising Income Statement, full disclosure principle

Classified Multiple-Step Income Statement (contd)

5.6 Closing Entries for a Merchandiser

and 6.1 Inventory Cost Flow Assumptions provide 50 mcq questions covering all the topics, at least 10 of each each

provide more than 50 if you can

example

1 If a company uses a perpetual inventory system, it will maintain all the following accounts except:

Select one:

A.inventory.

B.sales.

C.purchases.

D.cost of goods sold.

2 Under a perpetual inventory system, the entry to record the cost of goods sold would include a debit to:

Select one:

A.

Cost of Goods Sold and a credit to Inventory for the retail price of the inventory.

B.

Inventory and a credit to Cost of Goods Sold for the cost of the inventory.

C.

Inventory and a credit to Sales Revenue for the retail price of the inventory.

D.

Cost of Goods Sold and a credit to Inventory for the cost of the inventory.

3 When is it necessary to calculate the cost of goods sold at the end of the year?

Select one:

A.

It is optional whether to calculate cost of goods sold or not.

B.

It is always necessary.

C.

When using the perpetual inventory system.

D.

When using the periodic inventory system.

5 Which accounts are affected in the closing process under a perpetual inventory system?

Select one:

A.

Operating Expenses, Sales Revenue, and Purchases.

B.

Gross Margin, Sales Returns and Allowances, and Sales Discounts.

C.

Gross Margin and Cost of Goods Sold.

D.

Cost of Goods Sold, Sales Returns and Allowances, and Sales Discounts.

6 Under a perpetual inventory system, the entries to record a $2,600 sales return of undamaged goods for a sale originally made on account, when the merchandise had a cost of $1,200, include a:

Select one:

A.

debit to Inventory of $1,200.

B.

credit to Cost of Goods Sold of $2,600.

C.

debit to Sales Returns and Allowances of $1,200.

D.

credit to Sales Returns and Allowances of $1,200.

These are the example of what type of questions I want