In a periodic inventory system, the cost of purchases is recognized as
a. an integral part of the calculation of cost of goods sold.
b. the only part of the calculation of cost of goods sold.
c. an increase in the inventory account.
d. an increase in an asset account.
a
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Adding together the ending merchandise inventory and cost of goods sold gives the amount of goods available for sale
Indicate whether the statement is true or false
The traditional income statement focuses on:
A) cost function. B) cost behavior. C) contribution margin. D) variable costing.
Which of the following is an assumption of cost-volume-profit analysis?
a. Selling price/unit is constant. b. The sales mix is constant. c. Fixed costs/unit are constant. d. Both a and b answers are correct. e. All of the answers are correct.
Which nonverbal means of communication has been used to communicate rank, mood, occasion, and even seasons?
a. artifacts b. sounds *c. clothing d. gestures