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Quitoras Trisha Lynne A. Theories Chapter 7

This document contains practice questions and fill-in-the-blank exercises about accounting theories and concepts related to purchases, inventory, cost of goods sold, net sales, and other key terms. It includes multiple choice, true/false, and matching questions testing understanding of accounting principles for measuring business performance.

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Rhoda Claire M. Gansobin
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© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
288 views

Quitoras Trisha Lynne A. Theories Chapter 7

This document contains practice questions and fill-in-the-blank exercises about accounting theories and concepts related to purchases, inventory, cost of goods sold, net sales, and other key terms. It includes multiple choice, true/false, and matching questions testing understanding of accounting principles for measuring business performance.

Uploaded by

Rhoda Claire M. Gansobin
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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QUITORAS TRISHA LYNNE A.

THEORIES CHAPTER 7

FILL IN THE BLANKS

1. Purchases 11. Cost Of goods Sold


2. Perpetual Inventory System 12. Reduce
3. Beginning Inventory 13. Sold, Cost
4. Unearned Revenue 14. Beginning Inventory
5. Added 15. Sold
6. Gross Profit 16. Closed
7. Net Sales 17. Debit
8. Purchase Discount, Purchase Returns, 18. Net Sales
Purchase Allowances 19. Merchandise For Sale
9. Subtracted 20. combined
10. Added

TRUE OR FALSE

1.

2. T 12. F
3. F 13. F
4. F 14. T
5. F 15. T
6. T 16. T
7. F 17. T
8. T 18. F
9. T 19. T
10. F 20. T
11. T 21. T

TRUE OR FALSE

1. T 13. F 25. T
2. T 14. T 26. F
3. T 15. F 27. T
4. T 16. T 28. F
5. T 17. T 29. T
6. T 18. F 30. T
7. F 19. T 31. F
8. T 20. F 32. T
9. T 21. T 33. F
10. T 22. T 34. T
11. F 23. T
12. T 24. F
MATCHING TYPE

1. B
2. K
3. C
4. H
5. E
6. I
7. J
8. G
9. L
10. F

MULTIPLE CHOICE I

1. C
2. C
3. C
4. C
5. D
6. B

MULTIPLE CHOICE II

1. B 10. B
2. C 11. A
3. C 12. C
4. B 13. B
5. A 14. B
6. A 15. C
7. B 16. A
8. C 17. B
9. C

MULTIPLE CHOICE III

1. A
2. D
3. D
4. A
5. A
MULTIPLE CHOICE IV

1. B 12. D 23. A
2. B 13. C 24. C
3. C 14. A 25. A
4. A 15. D 26. B
5. B 16. C 27. C
6. A 17. D 28. A
7. C 18. D 29. C
8. A 19. B 30. B
9. C 20. A 31. A
10. A 21. C 32. A
11. A 22. D 33. D

MULTIPLE CHOICE V

1. B
2. B
3. A
4. D
5. D
6. A
7. B
8. B
9. C
10. D
11. A
12. C

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