Author Question: A retailer pays taxes on its: a. gross margin before taxes. b. net profit before taxes. c. net ... (Read 98 times)

Mr3Hunna

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A retailer pays taxes on its:
 a. gross margin before taxes.
  b. net profit before taxes.
  c. net sales before taxes.
  d. gross sales before taxes.
  e. operating profit before taxes.

Question 2

Which of the following items would NOT be included on the balance sheet but would BE on the income statement?
 a. Noncurrent assets
  b. Cost of goods sold
  c. Current liabilities
  d. Net worth
  e. Accounts receivable



Jadwiga9

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Answer to Question 1

B

Answer to Question 2

B



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