The Account That Measures the Expense of the Inventory Sold

question 15

Multiple Choice

The account that measures the expense of the inventory sold during the period is called:

• A) cost of sales.
• B) gross profit.
• C) purchases.
• D) cost of completed goods.

---

Definitions:

Attentive Listeners

Individuals who actively listen and pay close attention to what is being said, demonstrating engagement and understanding.

Spinning

The process of turning fibers into yarn or thread by twisting them together, either manually or with machinery.

External Communication

The process of exchanging information between a company and external parties such as customers, suppliers, investors, and the public.

Cynical Listening

A type of listening where the listener doubts or questions the sincerity or validity of the speaker's messages.