Which of the Following Accounts Is Used ONLY at the Close

question 66

Multiple Choice

Which of the following accounts is used ONLY at the close of the merchandising cycle?

• A) Net sales revenue
• B) Income summary
• C) Cost of goods sold
• D) Sales revenue

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Definitions:

African American

An ethnic group of Americans with total or partial ancestry from any of the black racial groups of Africa.

Guidance

Support or advice provided to someone to make decisions or to face problems or challenges.

Discipline

Methods and techniques used to teach and enforce acceptable behavior patterns, often emphasizing self-control and adherence to rules.

Time/Out

A disciplinary technique used in parenting and education, involving a brief period of isolation or pause from activities as a consequence for undesirable behavior.