Which of the Following Amounts Would Be Reported as Merchandise

question 48

Multiple Choice

Which of the following amounts would be reported as Merchandise Inventory on the balance sheet of a company if the cost of an item is $120 and the current replacement cost is $100?

• A)$220
• B)The average of $100 and $120
• C)$120
• D)$100

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Definitions:

Millennial

A person born approximately between the early 1980s and late 1990s, characterized as being digitally savvy, value-oriented, and possibly facing different socioeconomic challenges than previous generations.

College Students

Individuals enrolled in an institution of higher education, pursuing undergraduate, postgraduate, or various diploma courses.

Polyandry

A form of marriage in which a woman is married to two or more men at the same time.

Polygyny

A type of matrimonial arrangement where a man can concurrently have multiple wives.