Which of the Following Accounts Would Most Likely Appear on the Income

question 148

Multiple Choice

Which of the following accounts would most likely appear on the income statement of a merchandise company, but not on the income statement of a service company?

• A)cost of goods sold
• B)selling expenses
• C)administrative expenses
• D)income tax expense

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Definitions:

Crowdfunding

A method of raising capital through the collective effort of friends, family, customers, and individual investors, primarily online via social media and crowdfunding platforms.

Venture Capital

Financing that investors provide to startup companies and small businesses with perceived long-term growth potential.

Computer Forensics

The practice of collecting, analyzing, and preserving computer-related evidence for legal purposes.

Collaborative Model

A framework or system used to enable multiple users or parties to work together on a common task or project, often in real-time.