A company's gross margin reported on the income statement is not affected by the inventory cost flow method it uses.

Answer the following statement true (T) or false (F)


False

The selection of cost flow method impacts cost of goods sold, which impacts gross margin.

Business

You might also like to view...

Consider a culture in which an individual’s status is very important. Cultural communication relies more on nonverbal communication than verbal. This hypothetical culture is likely a ______ culture

a. low-context b. collectivist c. high-context d. individualistic

Business

In the creative phase, the ________ uses thumbnails, roughs, and comprehensives (comps) to establish the ad's look and feel.

A. copy editor B. designer C. graphic consultant D. dummy E. storyboard editor

Business

Your university needs additional housing on campus. What type of proposal will you prepare?

A) Internal. B) External.

Business

Esmeralda is a debtor in a Chapter 7 bankruptcy proceeding. Which of the following is not a duty of Esmeralda under Chapter 7?

a. To undergo credit counseling with an approved agency before filing. b. To provide a repayment schedule for the debt owed to each creditor listed on the creditor list. c. To provide a list of all her assets and debts. d. To provide a schedule of all her income and expenditures.

Business