Which of the Following Is Not True Regarding the Components

question 125

Multiple Choice

Which of the following is not true regarding the components of the income statement?

• A)Cost of goods sold represents the total cost, excluding shipping, of the merchandise sold during the accounting period.
• B)Gross profit margin is calculated by dividing gross profit by net sales revenue.
• C)Operating expenses include those costs that contribute directly to the manufacture and distribution of goods.
• D)A and B above

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Definitions:

Custom-made Invitations

Invitations that are specifically designed and produced to meet the unique preferences and specifications of the requester for a particular event.

Wooden Swan

A decorative or artistic object, often carved from wood, designed to resemble a swan.

Over-the-top Celebration

An event or party marked by extravagant or excessive displays beyond what is usual or expected.

Hispanic Girl

A girl or young woman who identifies with or is descended from Spanish-speaking populations, particularly those from Latin America or Spain.