Q2

Question 6
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_____-is the cost of the merchandise that the merchandiser has sold.

Select one:
a. Freight in or transportation in
b. Cost of goods sold or cost of sales 
c. Merchandiser or trader
d. Merchandising

Question 7
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The owner of a merchandising business is called

Select one:
a. Buyer and/or Seller
b. Merchandiser
c. Trader
d. All of these 

Question 8
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On March 1, 2017, Mr. A bought 10 units of cell phones with a listed price of P 10,000 each,
less 2%, 4%, for resale. Terms of payment: 2/10, n/30. Assuming Mr. A paid on March 8,
2017, he will be paying

Select one:
a. P100,000
b. P92,000 
c. P92,198
d. P98,000

Question 9
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What journal will you use to record the following transaction:Cash sale of merchandise
inventory.

Select one:
a. Purchases Journal
b. Cash Payments Journal 
c. Cash Receipts Journal
d. General Journal

Question 10
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