If the cost of an item of inventory is 60 and the current ...

[jrubin]

If the cost of an item of inventory is 60 and the current replacement cost is 75, the amount included in inventoryaccording to the lower of cost or market is
 a. 15
  b. 60
  c. 75
  d. 135

Question 2

On June 30, 2011, Xanadu Corporation issued 200,000 of 10-year, 8 bonds at 99. The bonds pay interest semi-annually on June 30 and December 31. How much cash did Xanadu receive when the bonds were issued?
 
  A) 200,000
  B) 160,000
  C) 198,000
  D) 99,000

[Ksh22]

Answer to Question 1

b

Answer to Question 2

C

[jrubin]

Excellent

[Hdosisshsbshs]

TYSM