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You know your goods? Flashcards | StudBud
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You know your goods?
You know your goods?
10 terms
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StudBud Administration
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9 plays
Recap on inventory
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
Inventory =
Asset
Equity
Liability
2
Inventory bought on credit
Inventory increase/ Trade payable decrease
Inventory increase/ Trade payable increase
3
Inventory = bought to be resold
False
True
4
Goods taken out for personal use.
Inventory decrease/ Drawings increase
Inventory decrease/ Drawings decrease
5
A sports equipment bought office equipment for use in business. Inventory ?
NO
YES
6
The percussion instruments are called:
Kodo
Taiko
Shime
Hachijo
7
Buy a motor van on credit.
Other payable increase
Trade payable increase
8
Buy goods on credit.
Other payable increase
Trade payable increase
9
A furniture retailer bought shelving to be used in the business. Inventory?
Yes
No
10
Inventory bought and paid by cash.
Inventory increase / Cash in hand increase
Inventory increase/ Cash in hand decrease
