This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A profit/loss statement is also known as: a. Operating statement b. Income statement c. ... (Read 61 times)

Sufayan.ah

  • Hero Member
  • *****
  • Posts: 512
on: Sep 11, 2018
A profit/loss statement is also known as:
 
  a. Operating statement
  b. Income statement
  c. Balance sheet
  d. Both a and b

Question 2

Which one of the following statements about markup is false?
 
  a. Markup and expense percents cannot be compared if they are based on different figures; both must be based on either retail or cost figures.
  b. Markup percent based on retail is always less than 100.
  c. Markup percent based on retail may be more than 100.
  d. When markup percent is based on retail, retail always equals 100.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mmj22343

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Sep 11, 2018
Answer to Question 1

d. Both a and b

Answer to Question 2

c. Markup percent based on retail may be more than 100.


Sufayan.ah

  • Hero Member
  • *****
  • Posts: 512
Reply #2 on: Sep 11, 2018
Both answers were spot on, thank you once again


mmj22343

  • Sr. Member
  • ****
  • Posts: 297
Reply #3 on: Sep 11, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

American women operating machine lathes in a munitions factory. American women operating machine lathes in a munitions factory.
The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Saving Rates by Income Quintile, 2003 Saving Rates by Income Quintile, 2003
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Relative levels of neuronal loss in HD transgenic mice Relative levels of neuronal loss in HD transgenic mice
Loss of a Shoot Tip Ends Dormancy in Lateral Buds Loss of a Shoot Tip Ends Dormancy in Lateral Buds
Video: Mutations and translation

For a complete list of videos, visit our video library