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LATEST Peregrine Exam QUESTIONS WITH COMPLETE SOLUTIONS
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LATEST Peregrine Exam QUESTIONS WITH COMPLETE SOLUTIONS LATEST Peregrine Exam QUESTIONS WITH COMPLETE SOLUTIONS
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Peregrine Exam 2024-2025 QUESTIONS WITHCOMPLETE SOLUTIONS
When the costs of supplies increase in an industry, the low cost leader_____ -
CORRECT ANSWER is the only firm able to pay the higher prices and continue to earn
average or above average returns
Accounts Payable - CORRECT ANSWER current liability account in which a company
records the amounts it owes to suppliers or vendors for goods or services that it
recieved on credit
accounts receivable - CORRECT ANSWER current asset account in which a company
records the amounts it has a right to collect from customers who received goods or
services on credit
what is the cost of goods sold? - CORRECT ANSWER the total cost of merchandise
sold during a period
owners equity - CORRECT ANSWER one of the three main sections of a sole
proprietorship's balance sheet
cash - CORRECT ANSWER includes the following: currency and coins, checks
received from customers but not yet deposited, checking accounts, and petty cash
cash equivalents - CORRECT ANSWER short-term high liquidity investments with a
maturity date that was 3 months or less at the time of purchase. Ex) money market
accounts, U.S. Treasury Bills, and commercial paper
, Peregrine Exam 2024-2025 QUESTIONS WITH
COMPLETE SOLUTIONS
when a business erroneously records expenses as assets, it has violated the
measurement of _____ - CORRECT ANSWER classification
lying by omission involves intentionally - CORRECT ANSWER withholding material
facts
The Federal Highway Administration uses notice-and-comment rulemaking. this process
begins with - CORRECT ANSWER the publication of a notice of proposed rulemaking
one way human resource planning links to strategic planning is by providing a set of
inputs into the ______ - CORRECT ANSWER strategy formulation process
which of the following is not one of W. Edwards Deming's 14 points? - CORRECT
ANSWER the only performance standard is zero defects
operating statement is another name for the ______ - CORRECT ANSWER Income
Statement
Purchases, returns and allowances, and purchase discounts are classified as _______ on
the income statement - CORRECT ANSWER contra-cost accounts
law of supply - CORRECT ANSWER states that the quantity of a good supplied (I.E.
the amount owners or producers offer for sale) rises as the market price rises, and falls
as the price falls
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