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:

Cultural Intelligence

The ability to understand, respect, and work effectively with people from different cultural backgrounds.

Foreigner

An individual who is from a different country, and not a native to the country in which they are currently residing or being referred to.

Minority Group Members

Individuals who belong to a segment of the population that differs from the majority in racial, ethnic, sexual orientation, or other characteristics, often facing disparities in treatment or opportunities.

Retaining

The act of keeping or maintaining possession, condition, or position of something or someone.