cost of merchandise sold? S What is the term applied to the eXcess of net revenue from sales over the NESS a. gross profit b. income from operations C. net income d. gross sales

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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CHA
S What is the term applied to the eXcess of net revenue from sales over the
MERCHANDISING BUSINESS
Cost of merchandise sold?
a. gross profit
b. income from operations
C. net income
d. gross sales
19. The term "inventory" indicates
a merchandise held for sale in the normal course of business
b. materials in the process of production or held for production
c. supplies
d. both (a) and (b)
tity's
20. A printed price of a manufacturer or wholesaler that is subject to trade
discounts is called
a. net price.
b. gross price.
c. list price.
d. retail price.
Ss and
ather
ntitled
Transcribed Image Text:CHA S What is the term applied to the eXcess of net revenue from sales over the MERCHANDISING BUSINESS Cost of merchandise sold? a. gross profit b. income from operations C. net income d. gross sales 19. The term "inventory" indicates a merchandise held for sale in the normal course of business b. materials in the process of production or held for production c. supplies d. both (a) and (b) tity's 20. A printed price of a manufacturer or wholesaler that is subject to trade discounts is called a. net price. b. gross price. c. list price. d. retail price. Ss and ather ntitled
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