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Which of the following statements is false?
Cost of Goods Sold
The outlays directly connected to the making of goods a company markets, comprising both material and labor expenses.
Net Income
The remaining income of a company after subtracting all costs and taxes from its total income.
Inventory
A collection of goods or materials a company holds for sale or production.
Consolidated Financial Statements
Financial reports that aggregate the financial position and operating results of a parent company and its subsidiaries.
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