Which of the Following Line Items Would Appear on the Income

question 186

Multiple Choice

Which of the following line items would appear on the income statement of a company that uses the periodic inventory system,but not on that of a company that uses the perpetual inventory system?

• A) Net Sales Revenue
• B) Cost of Goods Sold
• C) Cost of Goods Available for Sale
• D) Operating expenses

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Definitions:

Traditional Authority

A form of leadership in which the authority of an organization or a ruler is largely tied to tradition or custom.

Unilaterally Establish

To implement or decide upon policies, rules, or terms by one party without consultation or agreement with others involved.

Employee Voice

The means by which employees communicate their opinions, concerns, and suggestions about workplace issues to their employers.

Management

The process of dealing with or controlling things or people, which involves planning, organizing, leading, and controlling an organization's or team's activities.