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The trading results of a Merchandise trader is as follows: Net Sales OMR 100,000, Cost of Goods sold OMR 50,000, Interest expenses OMR 5,000, Salesman salary OMR 12,800, Office supplies expenses OMR 16,200, Marketing expense OMR 11,500, Insurance expenses OMR 3,500, What will be the Net income assuming that the business follows Multi-Step Income Statement? a. OMR 1,000 b. OMR 11,000 c. OMR 44,000 d. OMR 6,000

The trading results of a Merchandise trader is as follows: Net Sales OMR 100,000, Cost of Goods sold OMR 50,000, Interest expenses OMR 5,000, Salesman salary OMR 12,800, Office supplies expenses OMR 16,200, Marketing expense OMR 11,500, Insurance expenses OMR 3,500, What will be the Net income assuming that the business follows Multi-Step Income Statement? a. OMR 1,000 b. OMR 11,000 c. OMR 44,000 d. OMR 6,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The trading results of a Merchandise trader is as follows: Net Sales OMR 100,000, Cost of Goods sold OMR 50,000, Interest expenses OMR 5,000, Salesman salary OMR 12,800, Office supplies expenses OMR 16,200, Marketing expense OMR 11,500, Insurance expenses OMR 3,500, What will be the Net income assuming that the business follows Multi-Step Income Statement? a. OMR 1,000 b. OMR 11,000 c. OMR 44,000 d. OMR 6,000
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