1.
Which one of the following methods of inventory costing yields highest taxable income?

2.
Which one of the following methods of inventory costing produces ending stock cost close to the market value of the inventory?

3.
Which one of the following inventory costing methods is supposed to issue the most recently purchased goods?

4.
Opening inventory + Net purchases = ?

5.
Cost of goods available for sale - closing inventory = ?

6.
NRV or net realizable value of inventory is the expected selling price or market value less

7.
Under which method of inventory costing, a pre-determined cost is assigned to all items of inventory?

8.
Term 'Credit' means _____ by the business

9.
When a liability is reduced or decreased, it is recorded on the:

10.
When capital is increased by an amount, it is recorded on the: