20. (判断题) A payment on account has no effect on working capital but will increase the current ratio if it is already greater than 1.0.

10. (单选题)Cinnamon Buns Co. ( ) started 2018 with $52,000 of merchandise on hand. During 2018, $280,000 in merchandise was purchased on account with credit terms of 2/10, n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $9,000. Merchandise with an invoice amount of $4,000 was returned for credit. Cost of goods sold for the year was $316,000. CBC uses a perpetual inventory system.What is cost of goods available for sale, assuming CBC uses the gross method?

9. (单选题)In a perpetual average cost system:

8. (单选题)In a periodic inventory system, the cost of purchases is debited to:

7. (单选题)Using the gross method, purchase discounts lost are:

6. (单选题)Cost of goods sold is given by:

5. (单选题)The largest expense on a retailer's income statement is typically:

4. (单选题)In a perpetual inventory system, which of the following is recorded at the time of the sale?

3. (单选题)The use of LIFO during a long inflationary period can result in:

2. (单选题) Ending inventory is equal to the cost of items on hand plus:

1. (单选题)The primary reason for the popularity of LIFO is that it: