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kondaur [170]
4 years ago
6

When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise

inventory account
Business
1 answer:
Ghella [55]4 years ago
8 0

Answer: False

Explanation:

The revenue account for a Retail Merchandising Business is also known as the Sales Account.

When goods are sold they are credited to the Sales Account and it is no different here.

Therefore, When a Retail Merchandising Business sells goods to a customer the amount of the sold merchandise is credited to the Sales Account which makes the above statement false.

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The Tuck Shop began the current month with inventory costing $10,000, then purchased inventory at a cost of $35,000. The perpetu
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Answer:

$500 shrinkage

Explanation:

Calculation to determine the amount of shrinkage occurred during the month

Using this formula

Shrinkage=Ending inventory-Actual count

Let plug in the formula

Ending inventory=$10,000 + $35,000 - $30,000 Ending inventory= $15,000

Shrinkage=$15,000 - $14,500

Shrinkage= $500

Therefore the amount of shrinkage occurred during the month is $500

6 0
3 years ago
A firm's financial statements are generally assumed to include its income statement and balance sheet. Which of the following pi
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Answer: Liabilities

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On the other hand, the income statement shows and entity profitability over a period of time

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3 years ago
Seth appears to be taken aback by the number of files on his desk and his coworker’s comments about his boss. This reaction depi
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Answer:

ENCOUNTER

Explanation:

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4 0
3 years ago
As the executive of a bank or thrift institution you are faced with an intense seasonal demand for loans. Assuming that your loa
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5 0
3 years ago
According to the video, which subjects are Human Resources Managers likely to study in college? Check all that apply. Business s
AfilCa [17]

ANSWER:

Human resources managers studies: Behavioral science, Communication, and Liberal

EXPLANATION: Human resource managers are the ones that helps the organization to identify the best personnel for a particular job task. They identify where a staff needs an improvement, and will recommend such training to the organization. They also sees that the organizational culture is maintained and respected by all personnel's in the firm.

These are the Major roles of a HRM in an organization. For a HRM to be able to perform this role, he/she must have been able to understand what Communication is all about, because it is through communication he/she can identify a personnel that will fit in perfectly to a job task.

Behavioral studies is a very vital course for a HRM, because the personnels behaviors are what constitutes to the culture of the organization, so the HRM must understand the behavior of a person, and determine if it will fit into the organizations culture.

The HRM should not be biased in reasoning, this is why he/she has to study liberal in college, so that he/she will be able to accept other people's opinions and behavior.

6 0
3 years ago
Read 2 more answers
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