Which of the Following Items Is Not Needed to Apply

question 65

Multiple Choice

Which of the following items is not needed to apply MUS?

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including both raw materials and labor costs.

Operating Expenses

Expenses incurred during the normal operation of a business, not including the cost of goods sold.

Supplies Expense

The cost incurred from using supplies during an accounting period, recognized as an expense.

Net Income

The total profit of a business after all expenses and taxes have been subtracted from total revenue.