For a Merchandising Company

question 59

Multiple Choice

For a merchandising company:

• A) the balance sheet reports the cost of the inventory that was on hand at the beginning of the period.
• B) the income statement reports the cost of the inventory sold during the period.
• C) ending inventory can be an asset or an expense.
• D) inventory is generally not a significant factor in their operations.

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Definitions:

Formula Bar

A toolbar at the top of applications like Microsoft Excel which allows users to enter or view equations or formulas that apply to cells in spreadsheets.

Visual Representation

The use of images, diagrams, or animations to depict data and concepts in a visually understandable manner.

Area Chart

A type of graph used in statistics where data points are plotted and then connected by line segments, with the area underneath the line filled in to emphasize the volume.

Find Dialog Box

A feature in software applications that allows users to search for specific text or items within a document or database.