In Analyzing the Income Statement of Bob Company, Cost of Goods

question 50

Multiple Choice

In analyzing the income statement of Bob Company, cost of goods sold decreased from 2013 to 2014 by 8.2%. The cost of goods sold was $19,000 in 2014. The cost of goods sold to nearest dollar in 2013 was:

• A) $20,697.17
• B) $20,679.71
• C) $20,769.71
• D) $20,796.71
• E) None of these

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Definitions:

Profit Centers

Individual segments, departments, or divisions of a business that are responsible for generating their own revenue and profit, allowing for tracking and analysis of their financial performance separately from the overall company.

Profit Center

A part of an organization that directly contributes to its financial gain, often assessed on its ability to generate income exceeding its operational costs.

Sales Training

The process of providing sales staff with the necessary knowledge, skills, and strategies to effectively sell products or services.

Outsourced Training

The practice of having external specialists or companies conduct training and development activities for an organization's employees.