Identify which one of the following formula is used to calculate the net income of the service companies in an accounting period? a. Net Purchases – Cost of goods sold b. Net Sales – Cost of goods sold c. Services Revenue – Operational and Administrative Expenses d. Operational and Administrative Expenses – Service Revenue
Identify which one of the following formula is used to calculate the net income of the service companies in an accounting period? a. Net Purchases – Cost of goods sold b. Net Sales – Cost of goods sold c. Services Revenue – Operational and Administrative Expenses d. Operational and Administrative Expenses – Service Revenue
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 32MCQ
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Identify which one of the following formula is used to calculate the net income of the service companies in an accounting period?
a.
Net Purchases – Cost of goods sold
b.
Net Sales – Cost of goods sold
c.
Services Revenue – Operational and Administrative Expenses
d.
Operational and Administrative Expenses – Service Revenue
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