An Account Used to Record Transportation Charges on Incoming Merchandise

question 100

Multiple Choice

An account used to record transportation charges on incoming merchandise intended for resale:

• A) Freight-Out
• B) Freight-Received
• C) Freight-In
• D) Merchandise Freight

---

Definitions:

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue.

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and the government.

Cash Projections

Estimates of a company's future financial position based on expected cash inflows and outflows over a certain period.

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.