Which of the Following Budgets Is Not Required in a Wholesale

question 54

Multiple Choice

Which of the following budgets is not required in a wholesale organization?

• A) Cash.
• B) Sales.
• C) Production.
• D) Cost of goods sold.

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Definitions:

Gross Profit

The financial measure obtained by subtracting the cost of goods sold from total sales revenue.

Ending Inventory

The worth of products ready for sale at the close of a financial period, determined by adding acquisitions to the initial stock and then deducting the expense of the goods that were sold.

FOB Shipping Point

A term indicating that the buyer takes responsibility for goods and their transportation costs once they leave the seller's premises.

Net Income

The final amount a company earns, following the deduction of all expenditures and taxes from its total revenue.