Accountıng I Deneme Sınavı Sorusu #1313805

I. When the companies purchase merchandise inventory to resell, it is an expenditure.

II. All expenditures that the companies incur until the goods become ready to be sold are included in the cost of merchandise inventory.

III. When the goods are sold, the cost in balance sheet is transferred to income statement as an expense.

Which of the statements above about cost flow for merchandising companies is/are correct?

Only I

I and II

II and III

I and III

I, II and III

Yanıt Açıklaması:

When the companies purchase merchandise inventory to resell, it is an expenditure. All expenditures that the companies incur until the goods become ready to be sold are included in the cost of merchandise inventory. That cost is kept in the balance sheet until the goods are sold. When they are sold, the cost in balance sheet is transferred to income statement as an expense (COGS). The correct choice is E.

PAYLAŞ:

SORUNUN CEVABI: E

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