Cash payment suppliers of goods and services are shown under-------------. a) Operating b) Financing c) Investing

Cash payment suppliers of goods and services are shown under-------------. a) Operating
b) Financing
c) Investing
by

1 Answer

Answer :

a) Operating
by

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Which of the following is not a true statement about a multiple-step income statement? a. Operating expenses are often classified as selling and administrative expenses. b. There may be a section for nonoperating activities. c. There may be a section for operating assets. d. There is a section for cost of goods sold.

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A sales invoice is a source document that a. provides support for goods purchased for resale. b. provides evidence of incurred operating expenses. c. provides evidence of credit sales. d. serves only as a customer receipt.

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Last Answer : b. in operating expenses for the seller.

Which of the following expressions is incorrect? a. Gross profit – operating expenses = operating income b. Sales – cost of goods sold – operating expenses = operating income c. Operating income + operating expenses = gross profit d. Operating expenses – cost of goods sold = gross profit

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Operating ratio establishes the relationship between --------------- and net sales a) Cost of goods sold b) Cost of sales c) Cost of production d) Operating cost

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Description : A foreign currency transaction arises when an enterprise buys or sells goods or services whose price is denominated in the reporting currency.

Last Answer : FALSE

Fund flow statement are very useful in planning intermediate and ----------- financing. a) Short term b) Long term c) Medium term d) None of these

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A buyer would record a payment within the discount period under a perpetual inventory system by crediting a. Accounts Payable. b. Merchandise Inventory. c. Purchase Discounts. d. Sales Discounts.

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Last Answer : b. Merchandise Inventory.