Accountıng I Deneme Sınavı Sorusu #1184454
Which of the following statements is true?
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The Sales account is used to record only sales on account. |
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A service company purchases products from suppliers and then sells them. |
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Gross profit = Net sales revenue+Cost of goods sold |
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Net sales revenue = Sales Revenue – (Sales Returns and Allowances + Sales Discounts) |
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The invoice is the purchaser’s request for collection from the customer. |
Yanıt Açıklaması:
The correct answer is D. The invoice is the document given by the seller to the customer in return for collection. The service business does not buy products. Trading businesses buy products from suppliers and sell them to customers. Gross profit is the excess of sales revenue over cost of goods sold.
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