A Company's Chart of Accounts Includes, in Part, the Following

question 81

Multiple Choice

A company's chart of accounts includes, in part, the following account numbers and corresponding account titles: Which accounts would affect operating income?

• A)Account numbers 2, 4, and 9
• B)Account numbers 3, 5, 7, and 9
• C)Account numbers 3, 4, 7, and 9
• D)Account numbers 3, 4, 7, 8, and 9

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Definitions:

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.

Selling Expenses

Costs incurred directly and indirectly from selling products or services, such as advertising, commissions, and shipping costs.

Merchandise

Goods bought and sold by businesses, typically in the retail industry.