Which of the Following Statements Is False When a Company

question 60

Multiple Choice

Which of the following statements is false when a company sells inventory costing $700 for $1,200?

• A) Cost of goods sold is $700.
• B) Gross profit is $500.
• C)Stockholders' equity does not change.
• D)Net sales increases $500.

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Definitions:

Developed Nations

Countries that have a high level of economic growth and security, advanced technological infrastructure, and a high standard of living.

Middle Adulthood

A period in human development typically ranging from ages 40 to 65, focused on personal and professional growth, and stability.

Parenthood

The duties and state of being a parent, encompassing the upbringing, education, and care of children.

Primary Caregiver

An individual who takes primary responsibility for someone who cannot care fully for themselves, such as a parent for a child or an adult for an aging parent.