The Largest Expense Category on the Income Statement of Most

question 31

Multiple Choice

The largest expense category on the income statement of most merchandising companies is:

• A) other expenses
• B) cost of goods sold
• C) selling expenses
• D) administrative expenses

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Definitions:

Industrial Relations

The study and practice of managing the workforce, including the relationships between employers, employees, and the government.

Right To Join

The entitlement of individuals to become a part of an organization, group, or union, typically without restrictions.

Legal Obligation

A duty enforced by law that requires an individual or organization to follow or avoid specific actions.

Picketing

The act of protesting, typically by labor or trade union members, outside a place of employment or business to express grievances or demands.