What Is One of the Findings from the 2013 National

question 11

Multiple Choice

What is one of the findings from the 2013 National College Health Assessment study?

• A) The majority of males reported 3 or more sexual partners in the last year, while the majority of females reported only 2.
• B) Nearly 25% of students reported engaging in anal sex within the past 30 days.
• C) The majority of students reported having only one or zero sexual partners in the previous year.
• D) Over 60% of heterosexual students reported that they or their partner did not use contraception during their last sexual encounter.

Understand and apply the periodic and perpetual inventory systems to determine the cost of goods sold.

Journalize various types of transactions, including sales, returns, and freight charges, for both buyers and sellers under perpetual inventory system.

Prepare a cost of goods sold section of the income statement under periodic inventory system.

Calculate gross profit and prepare related sections of the income statement.

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Definitions:

Sole Proprietorship

A business structure where an individual owns and operates the business entirely, bearing unlimited liability for its debts and obligations.

Stockholders' Equity

The owners' claim after subtracting total liabilities from total assets, representing the net value of a company to its shareholders.

Net Income

The residual financial gain of a company after deducting every cost, tax, and expense from the total earnings.

Note Payable

A written agreement where one party promises to pay another party a certain amount of money at a future date or on demand.