Which of the Following Businesses Would Most Likely Not Report

question 81

Multiple Choice

Which of the following businesses would most likely not report cost of goods sold on their income statement?

• A)A law firm.
• B)An automobile dealership.
• C)A pizza restaurant.
• D)A computer chip manufacturer.

Analyze the effect of technological advancements on supply.

Examine the influence of expectations about future prices on current supply.

Comprehend the role of substitute goods in shaping supply decisions.

Grasp the concept of market equilibrium and the forces that drive towards it.

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Definitions:

Credits

Entries in accounting that increase liabilities or equity accounts, or that decrease asset or expense accounts, reflecting the sources of funds.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of periods to identify trends and growth patterns.

Income Statement

The income statement is a financial report that provides a summary of a company's revenues, expenses, and profits/losses over a specified period.

Sales

Revenue earned from selling goods or services over a certain period.