At the End of the Year, Yvonne Received a Form

question 63

Multiple Choice

At the end of the year, Yvonne received a form from her bank that reported income from her savings. That form is called a

• A) 1040.
• B) 1099.
• C) W-2.
• D) W-4.
• E) Schedule A.

---

Definitions:

Administrative Expense

Administrative expense refers to the costs associated with the general operation of a business, such as salaries of non-production staff, rent, and utilities.

Finished Goods

Completed products that are ready for sale but have not yet been sold to customers.

Inventory

The goods and materials held by a company for the purpose of resale or production.

Sales

The total amount of revenue generated from selling goods or services over a specific period.