What is an accounting term that represents an inventory account adjustment ?

Related Mcqs:

1. Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year ?

   A. P 4,880.00
   B. P 4,820.00
   C. P 4,860.00
   D. P 4,840.00

2. What is the basic accounting equation ?

   A. Assets = liability + owner’s equity
   B. Liability = assets + owners’ equity
   C. Owner’s equity = assets + liability
   D. Owner’s equity = liability – assets

3. What represents the ownership of stockholders who have a residual claim on the assets of the corporation after all other claims have been settled ?

   A. Authorized capital stock
   B. Preferred stock
   C. Incorporator stock
   D. Common stock

4. What stock represents ownership and enjoys certain preferences than ordinary stock ?

   A. Authorized stock
   B. Preferred stock
   C. Incorporator’s stock
   D. Presidential stock

5. What represents the share of participation in business organizations?

   A. Franchise
   B. Partnership
   C. Stock
   D. Corporation

6. While designing a project by an engineer, ______________should be taken into account to protect cultural heritage?

   A. All possible alternates
   B. No protection
   C. Minimum protection
   D. No care

7. Mandarin Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded ?

   A. Monthly
   B. Bimonthly
   C. Quarterly
   D. Annually

8. In year zero, you invest P 10,000.00 in a 15% security for 5 years. During that time, the average annual inflation is 6%. How much in terms of year zero pesos will be in the account at maturity ?

   A. P 15,030.03
   B. P 20,113.57
   C. P 18,289.05
   D. P 16,892.34

9. In computing depreciation of an equipment, which of the following represents the first cost ?

   A. The original purchase price and freight charges
   B. Installation expenses
   C. Initial taxes and permit fees
   D. All of the above

10. If 850 kg liquid occupies volume of one cubic meter, men 0.85 represents its_______________?

    A. specific weight
    B. specific mass
    C. specific gravity
    D. specific density
    E. none of the above