Author Question: Sales are equal to the cost of merchandise sold less the gross profit. a. True b. False ... (Read 61 times)

V@ndy87

  • Hero Member
  • *****
  • Posts: 571
Sales are equal to the cost of merchandise sold less the gross profit.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The IRS developed GAAP, or generally accepted accounting principles, for the accounting profession.
 
  Indicate whether the statement is true or false



briseldagonzales

  • Sr. Member
  • ****
  • Posts: 303
Answer to Question 1

False

Answer to Question 2

FALSE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

For a complete list of videos, visit our video library