Which of the Following Accounts Would Most Likely Appear on the Income

question 148

Multiple Choice

Which of the following accounts would most likely appear on the income statement of a merchandise company, but not on the income statement of a service company?

• A)cost of goods sold
• B)selling expenses
• C)administrative expenses
• D)income tax expense

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Definitions:

Outlining Reading Assignments

The process of breaking down reading materials into a structured summary to enhance understanding and retention.

Studying With A Group

The practice of learning or revising academic material by interacting with peers in a collaborative environment.

Acrostics

A type of word puzzle or mnemonic device where the first letter of each line or paragraph spells out a word or message.

Musical Notes

Symbols representing the pitch and duration of a sound in musical notation.