Which of the following is correct? OA. Beginning inventory for one year is beginning for...
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Accounting
Which of the following is correct? OA. Beginning inventory for one year is beginning for the next year OB. Service companies have zero inventory OC. Manufacturing companies have no inventories OD. Merchandizing companies have beginning and ending inventory Question 5 The following record relates to an asset: Carrying amount=AED 10,000 Value in use= AED 19,000 Fair value-AED19,000 OA. This asset has no impairment B. It is better to use this asset OC. It is better to sell this asset D. This asset has large impairment Question 6 In retail inventory calculation, Goods available for sales does not include one of the following: OA. Freight in OB. Markdown OC. Markdown (net) D. Markup (net) Question 11 Which of the following is true about markup in retail inventory? OA. Markup cancelation lead to loss OB. Markup plus markdown-retail price OC. Markup is done after good are available for sale OD. Markup and purchase returns are the same
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