Chapter 5: Inventory

Question 1

Inventory Valuation Detail Report

Answer 1

Report that displays all transactions affecting each inventory.

Question 2

Sales Discounts

Answer 2

Reduction of invoice amount due when a customer pays by a specific date.

Question 3

Enter Bills window - Items Tab

Answer 3

Window used to record purchases and receipt of inventory items.

Question 4

Adjust Quantity/Value on Hand activity window

Answer 4

Window used to adjust quantity or value of inventory as a result of damage or loss.

Question 5

Item List

Answer 5

Contains a file of all inventory items.

Question 6

Pay Sales Tax window

Answer 6

Window used to remit sales tax collected from customers to the appropriate state tax agency.

Question 7

Purchases by Item Detail Report

Answer 7

Report that displays each purchase transaction for inventory items.

Question 8

Inventory Stock Status by Item Report

Answer 8

Report that displays the on-hand status of every inventory item.

Question 9

Sales bunItem Detail Report

Answer 9

Report from the item list that show sales information for each inventory item.

Question 10

Sales Tax

Answer 10

Tax collected by a retailer form a customer on sales of goods.