All of the Following Are Cost Elements of an Operating

question 8

Multiple Choice

All of the following are cost elements of an operating statement EXCEPT:

• A)cost of goods sold.
• B)inventory.
• C)returns and allowances.
• D)direct labor.
• E)selling expenses.

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Definitions:

Ethics

The study of what is right and wrong in human conduct, often guiding individuals and businesses in their decisions.

Right

A moral or legal entitlement to have or do something, emphasizing a fair treatment or ownership of a concept, item, or privilege.

Wrong

Incorrect or false; not in accordance with established facts, truth, or morality.

Knowledge

Information, understanding, or skill that one gains through education, experience, or training.