Which of the Following Costs Is Most Likely to Be

question 47

Multiple Choice

Which of the following costs is most likely to be the largest expense reported on the income statement of a merchandiser such as Wal-Mart?

• A)Salaries expense
• B)Cost of goods sold
• C)Advertising expense
• D)Income tax expense

---

Definitions:

Percentage

A part or portion of a whole, expressed as a fraction of 100, used to quantify relative differences or changes.

Daily Interest

The interest amount calculated on the principal amount on a daily basis.

Exponential Notation

A mathematical way to write numbers using bases and exponents.

Arithmetic Operations

Basic mathematical processes including addition, subtraction, multiplication, and division.