Basic accounting jbd p5

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YOUTH ON THE ROCKBASIC ACCOUNTINGTUTORIALJessa Paola B. DiansuyBASIC ACCOUNTING TUTORIAL P21BASIC ACCOUNTING TUTORIAL P22Question:1. Businesses engaged in buying and selling of goods, generally in their originalforms, are termed:a.b.c.d.Merchandising and manufacturing firmsService and merchandising companiesMerchandising companiesService companiesBASIC ACCOUNTING TUTORIAL P23Question:1. Businesses engaged in buying and selling of goods, generally in their originalforms, are termed:a. Merchandising and manufacturing firmsb. Service and merchandising companiesc. Merchandising companiesd. Service companiesBASIC ACCOUNTING TUTORIAL P24REVIEW2. Freight-in is an account that is subtracted from the Purchases account to arrive atcost of goods purchased.a. Trueb. FalseBASIC ACCOUNTING TUTORIAL P25REVIEW2. Freight-in is an account that is subtracted from the Purchases account to arrive atcost of goods purchased.a. Trueb. FalseBASIC ACCOUNTING TUTORIAL P26REVIEW3.a.b.c.d.The Freight-in accountincreases the purchased.is contra to the Purchases account.is a permanent account.has a normal credit balance.BASIC ACCOUNTING TUTORIAL P27REVIEW3. The Freight-in accounta. increases the purchased.b. is contra to the Purchases account.c. is a permanent account.d. has a normal credit balance.BASIC ACCOUNTING TUTORIAL P28REVIEW4.a.b.c.d.Freight cost to deliver goods to customers reporte … Purchase document to see full attachment

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