Devry NY ACCT 504 Week 4 Midterm Exam/Devry NY ACCT 504 Week 4 Midterm Exam
1. Merchandising businesses that sell to retailers are known as:
d. service firms.
2. Which of the following companies would be most likely to use a perpetual inventory system?
a. grain company
c. clothing store
d. jewellery dealer
3. A merchandiser that sells directly to consumers is a:
d. service enterprise.
4. Two categories of expenses in all merchandising companies are:
a. cost of goods sold and financing expenses
b. operating expenses and sales
c. cost of goods sold and operating expenses