transaction entered in the inventory journals will allow all but one of the following

a) the assembly of various inventory items into one finished product

b) transfers from one inventory item to another

c) recording of customer and supplier invoices involving inventory

d) adjustments for lost, stolen or damaged goods

in budget reports-

a) the position is unfavourable when the actual expense amount is lower

b) the position is favourable when the sales budget amount is higher

c) the position is favourable when the budget expense amount is lower

d) the position is unfavourable when the actual sales amount is lower

freight expenses

a) can never be allocated

b) are allocated in the same proportion as the other accounts used in the purchase

c) are allocated separately from the other accounts used in the purchase

d) cannot be allocated when they apply to purchases of assets of the asset accounts do not allow allocations

The most recent purchases price becomes the default for the next invoice when

a) the inventory is overstocked

b) a new price has been entered for an inventory purchase

c) you type on the amount and the quantity, there is no need to calculate unit price

d) a sale causes the inventory level to drop below zero

if the wrong inventory is selected in a purchase, you can make the correction before posting by

a) re-selecting the supplier from the suppliers lists and recording the purchase from scratch

b) selecting the incorrect field, entering the correct item, re-entering the quantity

c) opening a new purchase invoice and entering the correct work

d) removing the purchase invoice from the edit menu and choosing redo