Learning Objective 5-5 1) Cost of goods sold appears on both a multi-step income statement and a single-step income statement. 2) Both purchase discounts and sales discounts appear on the income statement of a company that uses the perpetual inventory method. 3) Referring to the following table, what is Operating income? Sales revenue $460,000 Cost of goods sold 300,000 Operating expenses 85,000 Sales discounts 20,000 Sales returns and allowances 15,000 Interest revenue 5,000 A) $40,000 B) $55,000 C) $160,000 D) $190,000 4) Referring to the following table, what is the Net income? Sales revenue $460,000 Cost of goods sold 300,000 […]

11) Which of the following asset categories would include fencing? A) Machinery and equipment B) Land improvements C) Buildings D) Land 12) Which of the following asset categories would include the cost of clearing land and removing unwanted buildings? A) Land B) Buildings C) Land improvements D) Machinery and equipment 13) Which of the following is NOT a characteristic of a plant asset? A) The asset is used in the production of income for the business. B) The asset is available for sale to customers in the ordinary course of business. C) The asset has physical form. D) The asset […]

  1) ________ are miniature images of the presentation slides. A) Scroll boxes B) Thumbnails C) ScreenTips D) Templates 2) Use ________ to increase the list level of a bullet point. A) Enter B) [Ctrl] + [Alt] C) Tab D) [Shift] + [Tab] 3) ________ are a set of characters with the same design and shape. A) Letters B) Fonts C) Graphics D) Markers 4) The ________ pane provides an option for hearing how a word is pronounced. A) Spelling B) Left C) Slide D) Right 5) The ________ gallery contains several content layouts you can apply to a slide. […]

11) Which of the following is NOT displayed on the status bar? A) Comments button B) Fit slide to current window button C) Link to open other presentations D) Zoom level 12) Bullet ________ are individual lines of bullet text on a slide. A) points B) details C) levels D) records 13) A(n) ________ is a hierarchy of bullets and sub-bullets. A) alphabetic level B) list level C) chronological list D) detail list 14) In the Replace dialog box, the ________ box is where you enter the replacement text. A) Replace with B) Locate text C) Edit text D) Find […]

11) Which of the following is NOT displayed on the status bar? A) Comments button B) Fit slide to current window button C) Link to open other presentations D) Zoom level 12) Bullet ________ are individual lines of bullet text on a slide. A) points B) details C) levels D) records 13) A(n) ________ is a hierarchy of bullets and sub-bullets. A) alphabetic level B) list level C) chronological list D) detail list 14) In the Replace dialog box, the ________ box is where you enter the replacement text. A) Replace with B) Locate text C) Edit text D) Find […]