Which of the Following Conversion Formulas Is Correct for Lb $2.2 \mathrm{~kg}=1 \mathrm{lb}$

question 38

Multiple Choice

Which of the following conversion formulas is correct for lb and kg?

• A) \(2.2 \mathrm{~kg}=1 \mathrm{lb}\) OR
• B) \(2.2 \mathrm{lb}=1 \mathrm{~kg}\)

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Definitions:

Purchases

The total cost of goods acquired by a company for resale or use in production during an accounting period.

Freight-In Account

An accounting term for the cost of transporting goods into a business, which is part of the cost of goods sold.

Income Summary

An account in the ledger that is used during the closing process to collect all the temporary account balances before transferring the net result to the capital account.

Purchases

The acquisition of goods or services by a company for use in its operations or for resale.