Cost of Goods Sold Appears on The

question 106

Multiple Choice

Cost of goods sold appears on the:

• A)Statement of Retained Earnings as an addition to beginning retained earnings.
• B)Income Statement as a deduction from sales.
• C)Balance Sheet as a deduction from sales.
• D)Income Statement as a deduction from gross profit.

---

Definitions:

Corporate Law

A branch of law that deals with the formation, governance, and operations of corporations and their relationship with stakeholders.

Shareholders' Meetings

Gatherings of the owners of a corporation's shares to discuss corporate governance and make important decisions.

Stock Certificates

Physical documents certifying ownership of a specific number of shares or stock in a corporation.

State Agency

An organization established by a state government to carry out specific functions, such as regulating industries or providing services.