Author Question: Which method of inventory would be least likely to be used by a European firm? a. FIFO. b. LIFO. ... (Read 125 times)

Hungry! · **on:** Jul 6, 2018

Which method of inventory would be least likely to be used by a European firm?

a. FIFO.
b. LIFO.
c. Average cost.
d. LIFO and FIFO.

Question 2

A Petty Cash Fund established with a 300 balance had petty cash receipts totaling 269 and cash in the amount of 31 . The entry to replenish the fund would include a
a. credit to Cash for 269.
b. debit to Petty Cash Fund for 269.
c. debit to various expenses for 31.
d. credit to Petty Cash Fund for 269.
e. credit to various expenses for 269.