Some questions from my accounting review.

1. The net method of recording purchases refers to what.

2. Youre given a catalogue price for merchandise, what is the cost of the merchandise to you if there is a trade discount and credit terms. What is your inventory costs?

3. What is the current periods ending inventory? **All goods held for sale. Next periods beginning inventory.**

4. Beginning inventory plus purchases equals what?

5. Expenses report the overall operations of a business, including the expenses including HR, accounting, and management be under.

6. What are cash equivalence?

7. Outstanding checks refer to checks that have been what?

8. The person who signs a note receivable and promises to pay is called what?

9. Separate accounts receivable for each customer is important because

10. Asked to do a journal entry for the allowance method of accounting to write off $3,000 dollars that is un-collectable from a customer.