Accountıng I Deneme Sınavı Sorusu #1313804
Which of the following statements is not correct?
A merchandising company first purchases merchandise inventory to sell to its customers. |
Merchandise on hand (not sold) is called merchandise inventory asset. |
When merchandise inventory asset is sold, the revenue is reported as sales |
The cost of merchandise sold is subtracted from sales to arrive at net profit. |
When the companies purchase merchandise inventory to resell, it is an expenditure. |
Yanıt Açıklaması:
The cost of merchandise sold is subtracted from sales to arrive at gross profit. The correct choice is D.
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