超星 - Assignment 6

单选题

Given the following data, what would the net income after taxes be if the company uses LIFO?

A. $8,960
B. $12,720
C. $13,440
D. $6,800

单选题

ThedisclosureprinciplerequiresthatmanagementpreparefinancialreportsthatdiscloseallofthefollowingtypesofinformationEXCEPT:

A. informationthatisrelevanttodecisionmaking.
B. forecastsofexpectedfutureearningstohelpinvestorsdecidewhethertoinvestinthecompany.
C. themethodofinventoryused.
D. informationthatfacilitatescomparisonwithothercompanies'financialreports.

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单选题

AcompanyusesLIFOinoneyear,thenswitchestoFIFOandthentoaverage-cost.Thisisaviolationofthe:

A. disclosureprinciple
B. historicalcostprinciple.
C. consistencyprinciple.
D. conservatismprinciple.

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单选题

Thelower-of-cost-or-marketrulerequiresacompanytoreportinventoriesatthelowerof:

A. historicalcostorcurrentsalesprice.
B. historicalcostorcurrentreplacementcost.
C. currentreplacementcostorsalesinvoiceprice.
D. FIFOcostorLIFOcost.

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单选题

Thegrossprofitpercentage:

A. ismarkupstatedasapercentageofcost.
B. isalsoknownasthegrossmarginpercentage.
C. willincreaseifacompanyisexperiencingfinancialdifficulty.
D. fluctuatessignificantlyformostcompaniesfromyeartoyear.

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单选题

Theinventoryturnoverratio:

A. isdeterminedbydividingcostofgoodssoldbynetsales.
B. showshowmanytimesthecompanysolditsaveragelevelofinventory.
C. shouldbehighforacompanythatsellshigh-pricedinventoryitems.
D. willbelowerforcompaniesthathavemanylow-priceditemsintheirinventory.

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单选题

Thegrossprofitrateiscalculatedas:

A. costofgoodssolddividedbynetsalesrevenue.
B. netsalesrevenueminusgrossprofitonsales.
C. netsalesrevenueminuscostofgoodssold.
D. grossprofitdividedbynetsalesrevenue.

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单选题

Maybell Inc., has the following items for the month of July:Inventory turnover is:

A. 4.26.
B. 4.60.
C. 7.02.
D. 3.96.

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单选题

Maybell Inc., has the following items for the month of July:The gross profit percentage is:

A. 34.9%.
B. 53.6%.
C. 65.0%.
D. 25.0%.

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单选题

Thecost-of-goodssoldmodelis:

A. beginninginventory,pluspurchases,plusendinginventoryequalscostofgoodssold.
B. beginninginventory,lesspurchases,lessendinginventoryequalscostofgoodssold.
C. beginninginventory,pluspurchases,lessendinginventoryequalscostofgoodssold.
D. beginninginventory,lesspurchases,plusendinginventoryequalscostofgoodssold

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