1-Wch of the following will be classified under inventory? a. Raw Materials b. All the above c. Work-in-progress d. Finished goods

Excerpt
running a restaurant business in Nizwa. Wch of the following would be classified as a Fixed asset for their restaurant business? a. Cash in hand in the restaurant b. Inventory of tea & coffee c. Salary paid for restaurant employees d. Furniture in the restaurant

1-Wch of the following will be classified under inventory? a. Raw Materials b. All the above c. Work-in-progress d. Finished goods 2-Multiple-step income statements: a. Show income from operations but not gross profit b. Show gross profit but not income from operations c. Show both gross profit and income from operations d. Show neither gross profit nor income from operations 3-Goods returned to suppliers will be recorded in wch books of prime entry? a. General Journal b. Sales Journal c. Purchase Journal d. Sales ledger 4-The following is the financial information of XYZ company: Operating Expenses RO 45,000 Sales Revenue RO 150,000 Cost of Goods Sold RO 90,000 The Gross Profit Margin in terms of percentage will be a. 30 b. 10 c. 40 d. 70 5-Mr. Salim Mr. Salman are running a restaurant business in Nizwa. Wch of the following would be classified as a Fixed asset for their restaurant business? a. Cash in hand in the restaurant b. Inventory of tea & coffee c. Salary paid for restaurant employees d. Furniture in the restaurant

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