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4. In a manufacturing business, inventory that is ready for sale is called a. raw materials inventory. b. work in process inventory. c. finished goods inventory. d. store supplies inventory. 5. Merchandise inventory is a. reported under the classification of Property, Plant, and Equipment on the statement of financial position. b. often reported as a miscellaneous expense on the income statement. c. reported as a current asset on the balance sheet. d. generally valued at the price for which the goods can be sold. 6. Goodwill can be recorded a. when customers keep retuming because they are satisfied with the company's products. b. when the company acquires a good location for its business. c. when the company has exceptional management. d. only when an entire business is purchased. 7. All of the following are intangible assets except a. copyrights. b. trademark. C. patents. d. building. 8. In order to show an intangible asset in non-current assets, what would be the criteria? a. The economic benefit will be received in 3 months. b. The economic benefit will be received up to 1 year. c. The economic benefit will be received more than 1 year. d. The economic benefit will be received in 9 months. A truck that cost 105.000 TL and on which 50.000 TL of accumulated depreciation has been recorded was sold for 45.000 TL cash. The entry to record this event would include a a. gain of 10.000 TL. b. loss of 10.000 TL. C. credit to the Vehicles account for 55.000 TL. d. credit to Accumulated Depreciation for 50.000 TL. 10. The depreciation method that applies a constant percentage to depreciable cost in calculating depreciation is a. straight-line. b. units-of-activity. C. double declining. d. none of these answer choices are correct

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