88)

Your have just calculated the cost complement. Under the retail method of inventory valuation, what do you do next?

Select one:

a. Calculate reductions from retail value

b. Determine planned sales

c. Determine planned purchases at cost

d. Convert adjusted retail book inventory to cost

e. Determine the cost complement's inverse

93) When a customer purchases a product with the expectation that the product will perform to serve a particular purpose properly, safely and as reasonably expected, that product is said to include an ____________ ,

Select one:

a. implied warranty of merchantability.

b. implied warranty of fitness.

c. implied warranty of sale.

d. implied warranty of quality.

e. implied warranty of service.

113)

Art's Appliances has accounts payable of $65,000, payroll payable of $2,750, mortgage payable of $38,500, current notes payable of $12,000, and taxes payable of $3,100. Art's current liabilities are:

Select one:

a. $178,900

b. $38,500

c. $121,350

d. $12,000

e. $82,850