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 84 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?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Mass Loss from a Supermassive Star Mass Loss from a Supermassive Star
Mass Loss by a Supermassive Star Mass Loss by a Supermassive Star
The tension of the spring in the fuel-pressure regulator determines the operating pressure on a ... The tension of the spring in the fuel-pressure regulator determines the operating pressure on a ...
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree? How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree?
Video: Photosynthesis overview Animation

For a complete list of videos, visit our video library