Question

AHD Home Insert Design second exam... Zakari, Satu References Mailings Review View D Layout - Grammarly Help 16) 16) On a multi-step income statement, the operating expenses are subtracted from arrive at operating Income. to A) cost of goods sold B) net profit C) gross profit D) net sales 17) Which of the following is the correct order of subtotals that appear on a multi-step income statement? A) Operating income, Gross profit, Net Income B) Gross profit, Operating income,Net Income C) Gross profit, Net sales revenue, Net income D) Net Income, Operating income, Net Income 17) 18) Bargain Merchandisers has the following transactions for the month of July. Net Sales Revenue Cost of Goods Sold Operating Expenses Interest Revenue $403,000 310,000 85.000 7000 Calculate Gross Profit. A) 593,000 B) $1000 C) $185,000 D) $8000 19) 19) Which of the following states that the business should use the same accounting methods from period to period? A) materiality concept B) conservatism C) consistency principle D) disclosure principle 20) 20) The tracking of inventory shrinkage due to theft, damage, or errors is done with the help of (n) of inventory age 3 of 8 2465 words English (United States) D. Focus ENG 11:13 AM NO 117/2019

Answer 1

16 (c) Gross Profit

17 (b) Gross Profit, Operation Income, Net income

18 (a) 93000; Net Sales Revenue - Cost of Goods Sold

19 (c) Consistency Principle