Two Accounts That Would Appear on the Financial Statements of a Merchandising

question 35

Multiple Choice

Two accounts that would appear on the financial statements of a merchandising company that are not needed by a service company are:

• A)cost of goods sold and depreciation.
• B)cost of goods sold and net income.
• C)cost of goods sold and inventory.
• D)inventory and depreciation.

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Definitions:

Hideous Crimes

Acts that are particularly shocking due to their gruesome, violent, or morally reprehensible nature.

Rebellion

An act of violent or open resistance to an established government or ruler.

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the influence of situational factors when explaining other people's behavior.

Prevalent

Widespread in a particular area at a specific time.