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MAC1501 Assignment 6 Second Semester 2022
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MAC1501ASSIGNMENT 6
SECOND SEMSTER 2022
BY: MTHOMBENI: 0767297208
1
, VERSION 1
There can be an amount for cost of goods manufactured in a month with zero sales.
Select one:
True
False
Question 2
Incorrect
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Question text
The cost of salaries and wages paid to the employees of a merchandiser is expensed as a period cost.
Select one:
True
False
Question 3
Correct
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Question text
The statement of financial position contains the balances of assets and liabilities only.
Select one:
True
False
Question 4
Correct
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Question text
Creditworthiness refers to the ability of customers to pay their accounts.
Select one:
True
False
Question 5
Correct
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2
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Question text
Which one of the following ratios is efficiency ratio?
Select one:
A.
Quick ratio
B.
Gross profit margin
C.
Debt ratio
D.
Cash Conversion Cycle
Question 6
Correct
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Question text
Which one of the following is not is an inventory strategies model?
Select one:
A.
Lead time
B.
Material requirements planning (MRP)
C.
Economic order quantity (EOQ)
D.
Just-in-time (JIT)
Question 7
Correct
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3
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Question text
When indirect materials are issued to the production process, the cost of the materials flows from the
materials inventory account to which account?
Select one:
A.
the consumables control account
B.
the finished goods account
C.
the production overhead clearance account
D.
the work-in-progress account
Question 8
Correct
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Question text
According to the perpetual inventory system, ________.
Select one:
A.
only one account will be debited, and only one account will be credited when inventory is sold
B.
the value of closing inventory will be higher than if the periodic inventory system had been used
C.
all purchases are recorded in a purchases account
D.
a cost of sales account is updated throughout the year
4
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