Ch06会计学原理怀尔德21版答案.docx

Chapter 6 Inventories and Cost of SalesTrue / False Questions?1.?Goods in transit are automatically included in inventory.Answer: False?Blooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: MeasurementDifficulty: 1 Easy Learning Objective: 06-C1Topic: Merchandise Inventory?2.?Goods on consignment are goods shipped by their owner, called the consignee, to another party called the consignor.?Answer: False ?Blooms: UnderstandAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 2 MediumLearning Objective: 06-C1Topic: Merchandise Inventory?3.?If obsolete or damaged goods can be sold, they will be included in inventory at their net realizable value.?Answer: True ?Blooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: MeasurementDifficulty: 1 EasyLearning Objective: 06-C1Topic: Merchandise Inventory?4.?If the seller is responsible for paying freight charges, then ownership of inventory passes when goods arrive at their destination.?Answer: TrueBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 06-C1Topic: Merchandise Inventory ?5.?Net realizable value for damaged or obsolete goods is sales price plus the cost of making the sale.?Answer: False ?Blooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: MeasurementDifficulty: 1 Easy Learning Objective: 06-C1Topic: Merchandise Inventory?6.?The cost of an inventory item includes its invoice cost minus any discount, and plus any added or incidental costs necessary to put it in a place and condition for sale.?Answer: TrueBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: MeasurementDifficulty: 1 EasyLearning Objective: 06-C2Topic: Cost of Merchandise Inventory?7.?When taking a physical count of inventory, the use of pre-numbered inventory tickets is an application of internal control.?Answer: True?Blooms: RememberAACSB: Communication AICPA BB: IndustryAICPA FN: Measurement Difficulty: 1 EasyLearning Object