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 120 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?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Mass Loss from a Supermassive Star Mass Loss from a Supermassive Star
The Abecedarian study was designed to help very low-income African American children prepare for ... The Abecedarian study was designed to help very low-income African American children prepare for ...
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?
Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Loss of a Shoot Tip Ends Dormancy in Lateral Buds Loss of a Shoot Tip Ends Dormancy in Lateral Buds
Video: Introduction to Cystic Fibrosis

For a complete list of videos, visit our video library