An Account Used to Calculate Gross Profit on Trading, Prior

question 5

Multiple Choice

An account used to calculate gross profit on trading, prior to the profit and loss account is a/an ________ account.

• A)cost of sales
• B)inventory
• C)contra
• D)trading

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Definitions:

Mercedes

Mercedes is a global automobile brand known for its luxury vehicles, buses, coaches, and trucks, part of the German company Mercedes-Benz Group AG.

World Tour

A world tour refers to a series of performances or events that take place across different countries around the globe.

Marriage

A legally recognized union between two people, traditionally a man and a woman, establishing rights and obligations between them and any children.

Assignment

The process of transferring responsibilities, properties, or legal rights between parties.