Which of the Following Line Items Would Appear on the Income

question 215

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:

Securities Regulations

The body of laws and rules that govern the issuance, trading, and sale of securities to protect investors and ensure market integrity.

Intrastate Issues

Matters or disputes that arise within a single state's boundaries, without impacting other states.

Main Offices

The principal or headquarters of an organization where major administrative and management functions are conducted.

Manipulative And Deceptive Devices

Tactics or schemes designed to deceive or mislead people, often used in reference to fraudulent practices in securities trading.