Which of the Following Would Appear on the Income Statement

question 28

Multiple Choice

Which of the following would appear on the income statement of a company that uses the periodic inventory method,but would NOT appear on the income statement of a company that uses the perpetual inventory method?

• A) Net sales
• B) Cost of goods sold
• C) Cost of goods available for sale
• D) Insurance expenses

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Definitions:

Phallic

Pertaining to the phallus or penis, often used in psychoanalytic theory to describe the stage of psychosexual development focused on the genital organs.

Latency

The period of delay before a response or the onset of a disease after exposure to a stimulus or pathogen.

Genital

Relating to the reproductive organs; also used to describe the phase of psychosexual development in psychoanalytic theory that focuses on the genitals.

Phallic Stage

A phase in Freudian psychosexual development, occurring roughly between the ages of 3 and 6 years, where the libido (sexual energy) is focused on the genitals.