A place where the goods and services are bought and sold.

A place where the goods and services are bought and sold.
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A place where the goods and services are bought and sold.
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A Marketplace in which A final good or services bought and sold is called

Description : A Marketplace in which A final good or services bought and sold is called

Last Answer : Product market

Provided that the minimum amount of sum so payable shall not be less than ____ of the value of such defective goods sold or services provided, as the case may be to such consumers. a) Rs 25000/- c) 10 % c) 5% d) None of these

Description : Provided that the minimum amount of sum so payable shall not be less than ____ of  the value of such defective goods sold or services provided, as the case may be to such  consumers. a) Rs 25000/- c) 10 % c) 5% d) None of these

Last Answer : c) 10 %

Which is not added in the calculation of national income in India? (a) The value of goods and services. (b) The sold value of old fridge. © Services rendered by the housewives (d) Both (b) and (c)

Description : Which is not added in the calculation of national income in India? (a) The value of goods and services. (b) The sold value of old fridge. © Services rendered by the housewives (d) Both (b) and (c)

Last Answer : (d) Both (b) and (c)

GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) Sum of goods and services exported during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ; 

Complaint means allegation in writing made by a complainant that a) An unfair trade practice or restrictive trade practice has been adapted by any traders or service provider b) The goods bought by him or agreed to be bought by him suffer from one or more defect c) A traders or the service provider as the case may be has charged for the goods or for the services mentioned in the complaint a price in excess of the price d) All the above

Description : Complaint means allegation in writing made by a complainant that a) An unfair trade practice or restrictive trade practice has been adapted by any  traders or service provider b) The goods bought by him ... the services mentioned in the complaint a price in excess of the price d) All the above

Last Answer : d) All the above

How would the economy be affected if everyone holding stock neither bought nor sold shares for, say, a week?

Description : How would the economy be affected if everyone holding stock neither bought nor sold shares for, say, a week?

Last Answer : it would stay flat and sidewise. people would be going long term- then when it broke- there’d be lots of money to make

A salesman sold a parrot to a man. The salesman said, 'This parrot will repeat every single word it hears.' The man bought the parrot, but he found it would not speak a single word. What the salesman said was absolutly true, however. How is this possible? -Riddles

Description : A salesman sold a parrot to a man. The salesman said, 'This parrot will repeat every single word it hears.' The man bought the parrot, but he found it would not speak a single word. What the salesman said was absolutly true, however. How is this possible? -Riddles

Last Answer : The parrot was deaf.

Kavya bought 300, Rs. 50 shares paying a dividend of 8%. If she sold them when the price rose to Rs. 90 and invested the proceeds in 10%, Rs. 50 share

Description : Kavya bought 300, Rs. 50 shares paying a dividend of 8%. If she sold them when the price rose to Rs. 90 and invested the proceeds in 10%, Rs. 50 share

Last Answer : Kavya bought 300, Rs. 50 shares paying a dividend of 8%. If she sold them when the price rose to ... . 30, then find the change in her annual income.

how do i find out about a house when it was sold to who bought it?

Description : how do i find out about a house when it was sold to who bought it?

Last Answer : You can contact the tax accessor for the city that the home was sold in the information is recorded and the records are public.

Which of the following is done at a Stock Exchange? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

Description : Which of the following is done at a Stock Exchange? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

Last Answer : (3) Securities are bought and sold Explanation: A stock exchange or bourse is an exchange where stock brokers and traders can buy and/or sell stocks (also called shares), bonds, and ... of securities and other financial instruments, and capital events including the payment of income and dividends.

With ICICI and BoB sold there shareholding in CIBIL, who has bought their percentage of shares? A) Aditya Birla Trustee Company Private Ltd. B) Indian Overseas Bank C) TransUnion International Inc D) Union Bank of India E) India Infoline Finance Limited

Description : With ICICI and BoB sold there shareholding in CIBIL, who has bought their percentage of shares? A) Aditya Birla Trustee Company Private Ltd. B) Indian Overseas Bank C) TransUnion International Inc D) Union Bank of India E) India Infoline Finance Limited

Last Answer : C) TransUnion International Inc Explanation: Earlier the shareholding patterns of CIBIL were TransUnion International Inc (66.1%) ICICI Bank Ltd (6%) Bank of Baroda (5%) Bank of India (5%) Union ... Private Ltd. (4%) India Alternatives Private Equity Fund (2.9%) India Infoline Finance Limited (1%)

Nithish bought two purses which together cost him Rs.440. He sold one of the purse at a loss of 20% and the other one at a gain of 40%. The selling price of both purse are same. Then find out the cost price of both purse. a) Rs.150 and Rs.290 b) Rs.140 and Rs.300 c) Rs.170 and Rs.270 d) Rs.160 and Rs.280 e) None of the Above

Description : Nithish bought two purses which together cost him Rs.440. He sold one of the purse at a loss of 20% and the other one at a gain of 40%. The selling price of both purse are same. Then find out the cost price of both ... Rs.140 and Rs.300 c) Rs.170 and Rs.270 d) Rs.160 and Rs.280 e) None of the Above

Last Answer : 80/100 * x = 140/100 * y x = 7/4y x + y = 440 7/4 y + y = 440 y = 160 ; x = 280 Answer: d)

Ishath bought 15 pieces of [email protected],500/- each and sold all of them at the total price of Rs.81, 000/-. What is the percent profit earned in the deal? a) 18.66 b) 20 c) 25 d) 36 e) None of these

Description : Ishath bought 15 pieces of [email protected],500/- each and sold all of them at the total price of Rs.81, 000/-. What is the percent profit earned in the deal? a) 18.66 b) 20 c) 25 d) 36 e) None of these

Last Answer : Total cost of 15 pieces of Mobiles= 15×4500 = Rs. 67500 Total Sales prices of 15 pieces of Mobiles= Rs. 81000 Profit% = 81000 – 67500 / 67500 × 100 = 13500/67500 × 100 = 20% Answer: b)

A vendor bought 30 dozen bananas at Rs.16 per dozen. He sold 10 dozens at Rs.20 per dozen and 16 dozens at Rs.25 per dozen. The remaining 4 dozens were rotten and he threw away. Find his profit percentage. a)20% b)25% c)30% d)33 1/3%

Description : A vendor bought 30 dozen bananas at Rs.16 per dozen. He sold 10 dozens at Rs.20 per dozen and 16 dozens at Rs.25 per dozen. The remaining 4 dozens were rotten and he threw away. Find his profit percentage. a)20% b)25% c)30% d)33 1/3%

Last Answer : b)25%

Arjun bought 100 mangoes at the same price . 40 of them were of lower quality. He sold the remaining 60 mangoes at 60% more than the cost price. If in total, he earned a 28% profit, What is his profit/loss percentage, on the 40 mangoes of lower quality? a)20% profit b)15% profit c)20% loss d)15% loss

Description : Arjun bought 100 mangoes at the same price . 40 of them were of lower quality. He sold the remaining 60 mangoes at 60% more than the cost price. If in total, he earned a 28% profit, What is his ... loss percentage, on the 40 mangoes of lower quality? a)20% profit b)15% profit c)20% loss d)15% loss

Last Answer : c)20% loss

Amar sold a camera at 20% profit to Bhavan. Bhavan sold it to Chetan at 30% loss. Chetan bought the camera for Rs.840. find the cost price of Chetan, had Amar sold the camera to Bhavan at 30% loss and Bhavan sold it to Chetan at 20% profit (in Rs.) a)1160 b)1080 c)840 d)720

Description : Amar sold a camera at 20% profit to Bhavan. Bhavan sold it to Chetan at 30% loss. Chetan bought the camera for Rs.840. find the cost price of Chetan, had Amar sold the camera to Bhavan at 30% loss and Bhavan sold it to Chetan at 20% profit (in Rs.) a)1160 b)1080 c)840 d)720

Last Answer : c)840

Pencils are bought at 3 for Rs.2 and sold at 2 for Rs.3.Find the gain percentage 1)100% 2)110% 3)125% 4)115%

Description : Pencils are bought at 3 for Rs.2 and sold at 2 for Rs.3.Find the gain percentage 1)100% 2)110% 3)125% 4)115%

Last Answer : 3)125% Exp: [3(3)-2(2)]/4=5/4 In percentage=> (5/4)×100=125%.

Jimmy bought 25 apples for Rs.10 and sold them at the rate of 24 apples for Rs.12. What is the percentage of profit made by him? A. 25% B. 70% C. 60% D. 100%

Description : Jimmy bought 25 apples for Rs.10 and sold them at the rate of 24 apples for Rs.12. What is the percentage of profit made by him? A. 25% B. 70% C. 60% D. 100%

Last Answer : Answer – A (25%) Explanation – CP of 1 apple=10/25=2/5 SP of 1 apple=12/24=1/2 profit= 1/2-2/5=1/10 %= [(1/10) / (2/5) ] x 100 =25 %

Shan bought 30 liters of milk at the rate of Rs.8 per liter. He got it churned after spending Rs.10 and 5kg of cream and 30 liter of toned milk were obtained. If he sold the cream at Rs.30 per kg and toned milk at Rs.4 per liter, his profit in the transaction is: A. 20% B. 8% C. 30% D. 40%

Description : Shan bought 30 liters of milk at the rate of Rs.8 per liter. He got it churned after spending Rs.10 and 5kg of cream and 30 liter of toned milk were obtained. If he sold the cream at Rs.30 per kg and toned milk at Rs.4 per liter, his profit in the transaction is: A. 20% B. 8% C. 30% D. 40%

Last Answer : Answer – B .8% Explanation: CP =Rs.(30 x 8 + 10) = Rs.250 SP = Rs. (30 x 5 + 30 x 4) = Rs.270 Gain% = (20/250 x 100)% = 8%

I bought 15 pens and sold 12 of them at the cost price of 18 pens. What is the profit percentage? a) 50 b) 25 c) 30 d) 45

Description : I bought 15 pens and sold 12 of them at the cost price of 18 pens. What is the profit percentage? a) 50 b) 25 c) 30 d) 45

Last Answer : a) 50

A shopkeeper bought 30 kg of wheat at the rate of Rs 45 per Kg. He sold 40% of the total quantity at the rate of Rs 50 per Kg. Approximately, at what price per Kg should he sell the remaining quantity to make 25 per cent overall profit? 1. Rs 54 2. Rs 52 3. Rs 50 4. Rs 60

Description : A shopkeeper bought 30 kg of wheat at the rate of Rs 45 per Kg. He sold 40% of the total quantity at the rate of Rs 50 per Kg. Approximately, at what price per Kg should he sell the remaining quantity to make 25 per cent overall profit? 1. Rs 54 2. Rs 52 3. Rs 50 4. Rs 60

Last Answer : 4. Rs 60

Which of the following is done at a Stock Exchange ? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

Description : Which of the following is done at a Stock Exchange ? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

Last Answer : Securities are bought and sold

Joseph bought two varieties of rice, costing 5 cents per ounce and 6 cents per ounce each, and mixed them in some ratio. Then he sold the mixture at 7 cents per ounce, making a profit of 20 percent. What was the ratio of the mixture? A) 1:10 B) 1:5 C) 2:7 D) 3:8 E) NONE

Description : Joseph bought two varieties of rice, costing 5 cents per ounce and 6 cents per ounce each, and mixed them in some ratio. Then he sold the mixture at 7 cents per ounce, making a profit of 20 percent. What was the ratio of the mixture? A) 1:10 B) 1:5 C) 2:7 D) 3:8 E) NONE

Last Answer : Answer: B 1) 20% profit at the price of 7 cents means that cost of the mixture should be 70/12 cents per ounce (7 = 120% and x = 100% => x = 7*100/120) 2) Let the amount of 5 cent rice will be x and the amount ... which as we know should equal to 70/12 3) (5x + 6y)/(x + y) = 70/12 => x/y = 1/5

Rahim is dealer of magnetic components. He imports the components from Russia. Rahim sells a radio valve at profit of 20%. If he bought it at 20% less and sold it for Rs 5 less than the previous selling price, he would have gained 25%. Find the cost price?

Description : Rahim is dealer of magnetic components. He imports the components from Russia. Rahim sells a radio valve at profit of 20%. If he bought it at 20% less and sold it for Rs 5 less than the previous selling price, he would have gained 25%. Find the cost price?

Last Answer : 25

If novels bought at prices ranging from Rs 300 to Rs 470 are sold at prices ranging from Rs 400 to Rs 520, what is the greatest possible profit that might be made in selling 12 books?

Description : If novels bought at prices ranging from Rs 300 to Rs 470 are sold at prices ranging from Rs 400 to Rs 520, what is the greatest possible profit that might be made in selling 12 books? 

Last Answer : least cost price= 300*12 =3600 greatest sold price= 520 *12= 6240 profit required= 6240-3600=Rs 2640

Rita bought a computer with a discount of 10% on its marked price. she sold it at a price 25% more than the price at which she bought it. The new SP is how much percentage more than marked price?

Description : Rita bought a computer with a discount of 10% on its marked price. she sold it at a price 25% more than the price at which she bought it. The new SP is how much percentage more than marked price?

Last Answer : Mp=Rs x Sp=Rs 90/100*x=9x/10 Sp=9x/10*125/100=9x/8 Required %= (9x/8-x)/x *100 = 12.5%

Bharani sells a novel at a gain of 40%. if he had bought it at 20% less and sold it for Rs. 70 more which equals to 350% of CP. The CP of the novel is

Description : Bharani sells a novel at a gain of 40%. if he had bought it at 20% less and sold it for Rs. 70 more which equals to 350% of CP. The CP of the novel is

Last Answer : Let CP= x SP= 140x/100 = 14x/10 CP= 80% 0f x= 8x/10 then, SP =14x/10+70 14x/10 + 70= 350%of 8x/10 14x/10+70=350/100*8x/10=28x/10 70=28x/10-14x/10 70=14x/10 X=700/14 X=50

Dharan bought a donkey and a carriage for Rs.3000. He sold the donkey at a gain of 20% and the carriage at a loss of 10%, thereby gaining 2% on the whole. Find the cost of the donkey?

Description : Dharan bought a donkey and a carriage for Rs.3000. He sold the donkey at a gain of 20% and the carriage at a loss of 10%, thereby gaining 2% on the whole. Find the cost of the donkey? 

Last Answer : Let the cost price of the donkey be Rs ‘X’  Then cost price of the carriage = Rs(3000-X)  20% of X – 10% of (3000 – X) = 2% of 3000  X/5 – (3000-X)/10 = 60  2X – 3000 + X = 600  X = 1200  Hence cost price of the donkey = Rs.1200

Bhuvana bought 50 dozen of bangles at Rs5 per dozen. She spend Rs.125 on a particular tax and she sold them at 50p per each bangle. What was her profit or loss percent?

Description : Bhuvana bought 50 dozen of bangles at Rs5 per dozen. She spend Rs.125 on a particular tax and she sold them at 50p per each bangle. What was her profit or loss percent?

Last Answer : Cost price of 1 dozen bangles = Rs.5 Cost price of 50 dozen bangles = 50*5=Rs. 250  Amount of tax paid = Rs.125  Total cost price=250+125 = 375  Selling price of total number of bangles=50 * 12 * ½ = 300  Loss = 375 – 300 = 75 loss percentage = (75*100)/375 = 20%

Sridevi sells an article at a profit of 50%. If she had bought it at 40% less and sold it for Rs.21.50 less, She would have gained 60%. Find the cost price of the article.

Description : Sridevi sells an article at a profit of 50%. If she had bought it at 40% less and sold it for Rs.21.50 less, She would have gained 60%. Find the cost price of the article.

Last Answer : 1st selling price=150% of x = 150x/100 = 15x/10 New Cost price=60% of x = 60x/100 = 6x/10  2nd selling price = 160% of 6x/10 = 160/100 * 6x/10 = 96x/100  Therefore 15x/10 – 96x/100 = Rs.21.50  X=Rs.39.81  Therefore cost price of the article = Rs.40 (approx.)

kalyan bought 16 types of rava of certain rupees. After a week, he sold 6 types of rava at 20%profit, 6types of rava with neither profit nor loss and 4 types at 10%loss. In this transaction, what is the profit %?

Description : kalyan bought 16 types of rava of certain rupees. After a week, he sold 6 types of rava at 20%profit, 6types of rava with neither profit nor loss and 4 types at 10%loss. In this transaction, what is the profit %?

Last Answer : Let CP of 16 types =x CP of 1 type= x/16 Sp of rice 20%=6x/16+6x/16*20/100=9x/20 Spof rice without profir or loss=6x/16=3x/8 Sp of rice at 10% loss= 4x/16-4x/16*10/100=9x/40 Total seling price=9x/20+3x/8+9x/40 = 42x/40 now profit%= [42x/40-x]/x *100 =5%

Kathir bought some bananas at Rs.20 per dozen and bought the same number of bananas at Rs.16 per dozen. He sold these bananas at Rs.22 per dozen and gained Rs. 240. The total number of dozen bananas bought by him was:

Description : Kathir bought some bananas at Rs.20 per dozen and bought the same number of bananas at Rs.16 per dozen. He sold these bananas at Rs.22 per dozen and gained Rs. 240. The total number of dozen bananas bought by him was:

Last Answer : Cost price : 1 dozen bananas = Rs. 20 1 dozen bananas = Rs. 16 2 dozen bananas= Rs. 36 1 dozen bananas = Rs. 18 Selling price: 1 dozen bananas = Rs.22 Profit per dozen is Rs. 4 Therefore x* profit = Rs. 240 x = 240/4 X = 60 dozen

A vendor bought 35kg of wheat at the rate of Rs 50per kg. He sold 45%of the total quantity at the rate of Rs55 per kg. Approximately, at what price per kg should he sell the remaining quantity to make 40%overall profit?

Description : A vendor bought 35kg of wheat at the rate of Rs 50per kg. He sold 45%of the total quantity at the rate of Rs55 per kg. Approximately, at what price per kg should he sell the remaining quantity to make 40%overall profit?

Last Answer : CP of wheat=35*50=Rs.1750 45 of 35kg=45/100*35=15.75kg SP of 15.75kg=15.75of55=Rs.866.25 For 40%profit, total Sp of all the wheat is 1750*140/100=Rs.2450 Remaining sugar(35-15.75)=19.25kg Rate of remaining sugar per kg=2450-866.25/19.25 = Rs.82.27

What goods are sold

Description : What sells most online?

Last Answer : Electronics.

When goods are sold for cash, the personal a/c of the buyer is debited.

Description : When goods are sold for cash, the personal a/c of the buyer is debited.

Last Answer : State whether the following statement are ‘True or False’ with reason : When goods are sold for cash, the personal a/c of the buyer is debited.

When goods are sold on credit ___________ account is credited. 

Description : When goods are sold on credit ___________ account is credited. 

Last Answer : When goods are sold on credit ___________ account is credited. (a) Buyer’s A/c (b) Cash A/c (c) Sales A/c (d) Seller’s A/c

Which account will be debited when goods are sold to Ram on credit?

Description : Which account will be debited when goods are sold to Ram on credit?

Last Answer : Which account will be debited when goods are sold to Ram on credit?

The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1‚00‚000, the amount of gross profit will be– (A) Rs. 30‚000 (B) Rs. 25‚000 (C) Rs. 20‚000 (D) Rs. 16‚667

Description : The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1‚00‚000, the amount of gross profit will be– (A) Rs. 30‚000 (B) Rs. 25‚000 (C) Rs. 20‚000 (D) Rs. 16‚667

Last Answer : Answer: Rs. 25‚000

Stock should include– (A) Goods held as security (B) Goods held as consignee (C) Goods with customers for approval on sale or return basis (D) Goods sold but not delivered

Description : Stock should include– (A) Goods held as security (B) Goods held as consignee (C) Goods with customers for approval on sale or return basis (D) Goods sold but not delivered

Last Answer : Answer: Goods held as consignee

Which one of the following transactions changes the current ratio ? (A) Purchase of goods for cash (B) Plant acquired on account (C) Sold goods on credit (D) Debentures converted into equity capital

Description : Which one of the following transactions changes the current ratio ? (A) Purchase of goods for cash (B) Plant acquired on account (C) Sold goods on credit (D) Debentures converted into equity capital

Last Answer : Answer: Plant acquired on account

A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available

Description : A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available

Last Answer : (2) Goods are sold secretly Explanation: Black market is the market in which illegal goods are traded. Goods acquired illegally take one of two price levels: (i) they may be cheaper than legal ... defining feature of black markets is that they have to be carried out secretly as they are illegal.

Which of the following is an example of fraudulent financial reporting? a. The treasurer diverts customer payments to his personal due, concealing hisactions by debiting an expense account,thus overstating expenses. b. Company management changesinventory count tags and overstatesending inventory, while understatingcost of goods sold. c. An employee steals inventory and the“shrinkage” is recorded in cost of goodssold. d. An employee steals small tools from thecompany and neglects to return them;the cost is reported as a miscellaneousoperating expense

Description : Which of the following is an example of fraudulent financial reporting? a. The treasurer diverts customer payments to his personal due, concealing hisactions by debiting an expense account, thus ... the company and neglects to return them; the cost is reported as a miscellaneous operating expense

Last Answer : Company management changes inventory count tags and overstates ending inventory, while understating cost of goods sold

Inventory means ? 1. amount of goods sold 2. amount of goods lying unsold3. manufacturing new products 4. amount of goods sold on credit 5. None of these

Description : Inventory means ? 1. amount of goods sold 2. amount of goods lying unsold 3. manufacturing new products 4. amount of goods sold on credit 5. None of these

Last Answer : amount of goods lying unsold

Do You Know What Is Cogs (cost Of Goods Sold) Formula?

Description : Do You Know What Is Cogs (cost Of Goods Sold) Formula?

Last Answer : For manufacturers, cost of goods sold (COGS) is the cost of buying raw materials and manufacturing finished products. For retailers, it's the cost of obtaining or buying the products sold ... from an analysis of COGS, as it can highlight ways of improving efficiency and cutting expenditure.

A person sold one-third of the total quantity of goods at a profit of 15%. At what profit percent should the remaining quantity be sold so that he makes an overall gain of 21%? 1 : 18% 2 : 27% 3 : 33% 4 : 30% 5 : None of these

Description : A person sold one-third of the total quantity of goods at a profit of 15%. At what profit percent should the remaining quantity be sold so that he makes an overall gain of 21%? 1 : 18% 2 : 27% 3 : 33% 4 : 30% 5 : None of these

Last Answer : 5 : None of these

In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

Description : In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

Last Answer : b. 36%.

Which of the following accounts is not closed to Income Summary? a. Cost of Goods Sold b. Merchandise Inventory c. Sales d. Sales Discounts

Description : Which of the following accounts is not closed to Income Summary? a. Cost of Goods Sold b. Merchandise Inventory c. Sales d. Sales Discounts

Last Answer : b. Merchandise Inventory

On October 4, 2008, Terry Corporation had credit sales transactions of $2,800 from merchandise having cost $1,900. The entries to record the day's credit transactions include a a. debit of $2,800 to Merchandise Inventory. b. credit of $2,800 to Sales. c. debit of $1,900 to Merchandise Inventory. d. credit of $1,900 to Cost of Goods Sold.

Description : On October 4, 2008, Terry Corporation had credit sales transactions of $2,800 from merchandise having cost $1,900. The entries to record the day's credit transactions include a a. debit of $2,800 to ... c. debit of $1,900 to Merchandise Inventory. d. credit of $1,900 to Cost of Goods Sold.

Last Answer : b. credit of $2,800 to Sales.

Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is a. $30,000. b. $15,000. c. $6,000.

Description : Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is a. $30,000. b. $15,000. c. $6,000.

Last Answer : b. $15,000.

When a periodic inventory system is used, cost of goods sold is calculated as follows: a. Ending inventory plus purchases less beginning inventory. b. Beginning inventory plus purchases less ending inventory c. Cost of merchandise purchased less ending inventory. d. Cost of merchandise sold plus beginning inventory.

Description : When a periodic inventory system is used, cost of goods sold is calculated as follows: a. Ending inventory plus purchases less beginning inventory. b. Beginning inventory plus purchases less ... of merchandise purchased less ending inventory. d. Cost of merchandise sold plus beginning inventory.

Last Answer : b. Beginning inventory plus purchases less ending inventory