Which of the Following Accounts Will Not Be Found on the Cost

question 9

Multiple Choice

Which of the following accounts will not be found on the Cost of Merchandise Sold section on the Income Statement?

• A) Purchases
• B) Freight In
• C) Sales Returns and Allowances
• D) Merchandise Inventory

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Definitions:

Poorly Qualified Speaker

A poorly qualified speaker lacks the expertise, skills, or knowledge required to effectively communicate or present on a particular topic or to a certain audience.

Reasonable Idea

A concept or thought that is logical and consistent with available evidence, often considered feasible.

Influence

Influence is the capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.

Real Danger

An actual threat that poses a genuine risk of harm or damage.