Check your knowledge

Completed

Answer the following questions to see what you've learned.

1.

Which one of the following selections is a special characteristic of the item reclassification journal?

Posting item reclassification journal lines creates item ledger entries of type Positive Adjmt. and Negative Adjmt.

Posting item reclassification journal lines changes an item’s quantity on hand.

It creates two item ledger entries for each posting.

You can use it to rename items.

2.

When putting away an item in the warehouse, you notice that one unit of item 1908-S (London Swivel Chair) was damaged. What is the best way to adjust the inventory for this item?

Use the item journal to post a line of type Negative Adjmt.

Use the item journal to post a line of type Sale.

Use the item reclassification journal to post a line of type Negative Adjmt.

Use the item reclassification journal to post a line of type Sale.

You must answer all questions before checking your work.