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Author Question: Expenses that are incurred directly or entirely in connection with the sale of merchandise are ... (Read 115 times)

dmcintosh

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on: Jul 5, 2018
Expenses that are incurred directly or entirely in connection with the sale of merchandise are classified as
 a. selling expenses
  b. general expenses
  c. other expenses
  d. administrative expenses

Question 2

Identify the appropriate financial statement for each of the items listed below. Some items may be found on more than one financial statement.
 
  a. Balance sheet
  b. Income statement
  c. Statement of changes in shareholders' equity
  d. Statement of cash flows
 
  _____ 1. Cash paid for supplies
  _____ 2. Net income
  _____ 3. Sales revenue
  _____ 4. Rent expense
  _____ 5. Inventory
  _____ 6. Retained earnings
  _____ 7. Cash received from customers
  _____ 8. Cash


epscape

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

a

Answer to Question 2

d, b and c, b, b, a, a and c, d, a and d


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dmcintosh

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Reply #2 on: Jul 5, 2018
Thank you


epscape

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Reply #3 on: Jul 5, 2018
No problemo


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