Which Statement Is True When Indexing Business Names That Contain

question 17

Multiple Choice

Which statement is true when indexing business names that contain numbers?

• A) Numbers spelled out (sixth) are filed alphabetically.
• B) Numbers written in digits (10) are spelled out and filed alphabetically.
• C) Arabic numbers (2, 3) are filed before Roman numerals (II, III)
• D) both A and C

Understand the practical implications and procedural differences of conducting a physical inventory count under a periodic system.

Understand the principles of inventory management and the impact on financial statements.

Identify the various methods of inventory valuation and their effects on net income and taxes.

Calculate inventory costs using different methods (FIFO, LIFO, Average Cost).

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Definitions:

Gross Margin

The difference between revenue and the cost of goods sold, divided by revenue, expressed as a percentage.

Marketing Activities

Actions or initiatives undertaken by companies to promote their products or services, including advertising, social media campaigns, and public relations.

Price

The amount of something—money, time, or effort—that a buyer exchanges with a seller to obtain a product.

Expenses

Costs incurred in the running of a business or the completing of an activity.