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

question 137

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:

Mortality Rates

A measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time.

Hispanic Americans

Citizens or residents of the United States who are of Hispanic or Latino origin, representing a diverse range of cultures and backgrounds.

European Americans

Individuals in the United States who have European ancestry.

Smoking

The act of inhaling and exhaling the smoke of burning tobacco or other substances, often associated with various health risks.