Avery Supplies Uses a Periodic Inventory System $$\begin{array} { | l | r | r | } \hline \text { Freight in } & 250 & \\\hline \text { Cash } & & 250 \\\hline\end{array}$$

question 119

Multiple Choice

Avery Supplies uses a periodic inventory system.Avery purchased $10,000 of inventory on account.The terms were 3/10,n/30.The purchase was made on February 1.
-Avery paid the shipper $250 cash for freight in.How should Avery properly record the freight in?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Freight in } & 250 & \\
• \hline \text { Cash } & & 250 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Accounts payable } & 250 & \\
• \hline \text { Purchases } & & 250 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Inventory } & 250 & \\
• \hline \text { Cash } & & 250 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Freight in } & 250 & \\
• \hline \text { Accounts payable } & & 250 \\
• \hline
• \end{array}\]

Calculate the rate of return on investments with margin transactions.

Identify major regulatory bodies and their roles in securities markets in the United States.

Understand the mechanisms and tools used in trading stocks, including short sales and margin calls.

Distinguish between different types of markets (electronic, dealer, brokered, direct search) and their operational mechanisms.

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