An Annual Plant

question 23

Multiple Choice

An annual plant:

• A) Completes its life cycle over many years
• B) Completes a whole generation in a single year
• C) Is a persistent plant that may not produce in its early years
• D) Completes half a generation its first year

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Definitions:

Cost of Goods Sold

Costs directly related to creating products that a company offers for sale.

Net Income

The amount of earnings left over after all expenses have been deducted from revenue, indicating the financial profitability of a business.

Gross Profit Method

A technique to estimate the inventory's value by deducting the cost of goods sold from the total sales revenue.