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Which activities is not a component of the operating cycle

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Reference no: EM132795601

Problem 1: Which account does a merchandiser but not a service entity use?

a. Sales

b. Inventory

c. Cost of Goods Sold

d. All of the above

Problem 2: The two main inventory accounting systems are the following

a. purchase and sale,

b. returns and allowances.

c. cash and accrual.

d. perpetual and periodic.

Problem 3: Which of the following activities is not a component of the operating cycle?

a. Collection of cash from merchandise sales,

b. Ordering of merchandise,

c. Purchase of merchandise.

d. Sale of merchandise.

Reference no: EM132795601

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