Which statement is true?
A: The Sales account is used to record only sales on account.
B: Gross profit is the excess of sales revenue over cost of goods sold.
C: A service company purchases products from suppliers and then sells them.
D: Purchase returns and allowances increase the net amount of purchases.
A: The Sales account is used to record only sales on account.
B: Gross profit is the excess of sales revenue over cost of goods sold.
C: A service company purchases products from suppliers and then sells them.
D: Purchase returns and allowances increase the net amount of purchases.
举一反三
- The gross profit percentage is calculated as: A: cost of goods sold divided by net sales revenue. B: net sales revenue minus gross profit on sales. C: net sales revenue minus cost of goods sold. D: gross profit divided by net sales revenue.
- If the revenue from sales of a company is $2000,sales returns and allowances is $500 and sales discount is $250,the amount of net sales is: A: $1,000 B: $1,250 C: $1,500 D: $1,750
- Net sales is calculated by A: subtracting cost of sales from sales. B: subtracting sales returns and sales discounts from sales. C: subtracting sales returns, cost of sales, and sales discounts from sales. D: subtracting gross profit from sales.
- Theof sales revenue over cost of goods sold is called or gross profit. Gross indicates that thehave not been .
- If the net sales of a company is $2000, sales returns and allowances is $500 and sales discount is $250, the amount of net sales is : A: $1000 B: $1250 C: $1500 D: $1750