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:

Amnion

A membranous sac that surrounds and protects an embryo or fetus in the amniotic cavity of vertebrates.

Yolk Sac

An extra-embryonic membrane in many vertebrates that provides food for the embryo via absorbed nutrients.

Gas Exchange

The biological process through which organisms exchange oxygen and carbon dioxide with their environment, typically occurring in the lungs or gills.

Fetus

A developing mammal or human from the end of the embryonic stage, recognizably human in form, until birth.