Two Accounts That Appear on the Financial Statements of a Merchandising

question 134

Multiple Choice

Two accounts that appear on the financial statements of a merchandising company but 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:

Cross-Race Costumes

Dressing up in a costume that represents a person from a different racial or ethnic background, often discussed in contexts of cultural sensitivity and appropriation.

Subverting Racism

Actions or strategies aimed at undermining or challenging systemic racism and its underlying beliefs.

Prejudice

An unjustified or incorrect attitude (usually negative) towards an individual based solely on the individual's membership of a social group.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.