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ACCT 220 WEEK 2 QUIZ (UMUC)

ACCT 220 WEEK 2 QUIZ (UMUC)

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ACCT 220 WEEK 2 QUIZ (UMUC)

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ACCT 220 WEEK 2 QUIZ (UMUC)

Question 1 (4 points)

One advantage to using a perpetual inventory system is that the company never has to physically count the inventory.

Question 1 options:

 

True

 

False

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Question 2 (4 points)

The weighted-average inventory method will likely result in neither the highest nor the lowest ending inventory.

Question 2 options:

 

True

 

False

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Question 3 (4 points)

When calculating accounts receivable turnover, a company would prefer a higher number rather than a lower number (within reason).

Question 3 options:

 

True

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