Business - Marketing ACC120 Midterm: Mid-Term 2 - Practice Test(1).docx

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Allowable examination aids: (check applicable boxes) x calculators (non-programmable. Exam booklets x exam paper x scantron cards. Offences under this policy include but are not limited to cheating, plagiarism, falsification, impersonation, misrepresentation and procurement. Engaging in any form of academic dishonesty to obtain any type of academic advantage or credit is an offence under this policy and will not be tolerated by the college. For descriptions and/or specific examples of these academic offences, see appendix e. Which of the following companies would not be considered a merchandising company: mountain equipment co-op, walmart, air canada, microsoft. In a periodic inventory system, the inventory is adjusted: each time inventory is purchased, each time inventory is sold, when inventory is counted at the end of the accounting period, at the end of each month. Under a perpetual inventory system, the following entry would be made to record the return of merchandise purchased on account: accounts payable, accounts payable, accounts payable, accounts payable.

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