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Author Question: Comparative balance sheets ________. A) include balances of two consecutive years B) include ... (Read 80 times)

saraeharris

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on: Jul 5, 2018
Comparative balance sheets ________.
 
  A) include balances of two consecutive years
  B) include gross profit and operating income
  C) report financial ratios for the current year which are compared to the prior year's
  D) report revenues for both the current and previous years

Question 2

Which of the following items should not be included in the cost of ending merchandise inventory?
 a. purchased units in transit, shipped FOB shipping point
  b. purchased units in transit, shipped FOB destination
  c. units on hand in the warehouse
  d. sold units in transit, not invoiced, and shipped FOB destination


CAPTAINAMERICA

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

b


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