Which of the following is a temporary account?

Select one:

a. Revenues

b. Land

c. Account payable

d. Cash

If the company uses FIFO, what is the value of cost of goods sold for October?

1-Oct beginning inventory 50@4

10-Oct Purchase 100@4.5

20-Oct Purchase 150@5

31-Oct Sold 220@7

Select one:

a. $1,000

b. $1,200

c. $1,065

d. $1,028

Which of the following accounts is not a temporary account?

Select one:

a. Revenues

b. Withdrawals

c. Income summery

d. Account receivable

The buyer received an invoice from the seller for merchandise with a list price of $400 and credit terms of 2/10, n/60. The number 10 in the credit terms is the

Select one:

a. credit period

b. cash discount allowed for early payment of the invoice

c. discount period

d. trade discount