Assume the Perpetual Inventory System Is Used

question 53

Multiple Choice

Assume the perpetual inventory system is used.1) Green Company purchased merchandise inventory that cost $16,600 under terms of 2/10, n/30 and FOB shipping point.2) Green Company paid freight cost of $660 to have the merchandise delivered.3) Payment was made to the supplier on the inventory within 10 days.4) All of the merchandise was sold to customers for $24,700 cash and delivered under terms FOB destination with freight cost amounting to $460. What is the net cash flow from operating activities that results from these transactions?

• A)$7,312 inflow
• B)$24,700 inflow
• C)$17,388 outflow
• D)$8,432 inflow

Perform calculations related to the least squares estimation method, including finding the slope and y-intercept of the regression line.

Differentiate between various statistical terms used in regression analysis, such as SSE, residuals, and least squares method.

Apply regression analysis to predict values and understand the relationship between variables.

Interpret the significance of the slope in a regression model in real-life contexts.

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Definitions:

Rapidly

At a fast speed or in a short period of time.

Crack

A potent form of cocaine that is smoked to produce a rapid, intense high, often associated with severe addiction and negative health consequences.

Inhibitions

Psychological mechanisms that constrain or restrict behaviors, thoughts, or emotions deemed inappropriate or socially unacceptable.

Sexual

Relating to the biological differences between males and females, and aspects concerning physical or emotional attraction, activities, and relationships.