All of the Following Are Income Statement Items Except

question 7

Multiple Choice

All of the following are income statement items except:

• A) accrued expenses.
• B) depreciation expense.
• C) cost of goods sold.
• D) interest expense.

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Definitions:

Import Quotas

Restrictions set by a government on the quantity of a specific good that can be imported into a country.

Net Exports

The value of a country's total exports minus the value of its total imports, which is a component of a country's GDP.

Import Restrictions

Measures imposed by a government to control the quantity of goods coming into a country, often to protect domestic industries.

Trade Deficit

An excess of imports over exports.