Cost of goods sold represents the cost of buying and preparing merchandise for sale.
Answer the following statement true (T) or false (F)
True
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The cash discount terms for a purchase worth $1,000 made on August 1 are 3/10, net 30. How much will a buyer have to pay if he or she makes the payment on August 7?
A. $30 B. $970 C. $930 D. $1,000 E. $1,030
Which of the following sentences does not contain any buried verbs?
A) The health care industry is dependent on a highly trained staff. B) The task force reached a conclusion that the company should go public. C) In some parts of the world, business is not conducted over meals. D) We have made plans to create a reduction in our operating expenses.
Almost half of all American scan be described as ______ in their work, not willing to put in discretionary effort to go above and beyond to perform at a high level.
a. engaged b. disengaged c. involved d. included
For each item shown below, classify it as a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit of finished product. ?Product or period cost?Direct or indirect cost?Cost itemProductPeriodDirectIndirect Administrative salaries???? Direct labor???? Advertising???? Property tax on the factory???? Factory maintenance???? Direct materials???? Depreciation on factory equipment???? Interest expense???? Factory supplies????
What will be an ideal response?