Which of the following types of companies will not have cost of goods sold on its income

Question:

Which of the following types of companies will not have “cost of goods sold” on its income statement?
a. Service.
b. Merchandising.
c. Manufacturing.
d. Both merchandising and manufacturing.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Managerial Accounting

ISBN: 9780137858514

7th Edition

Authors: Karen W. Braun, Wendy M. Tietz

See More Books

Question Posted: Jun 04, 2023 05:53 AM

See More Questions

Read the case study Global Communication Strategy, Requirements: Part 1: Summary Part 2: End of Case Questions 1. Due to differences in culture in different markets, standardized products that are...
2. Let p; denote the ith prime integer (so that p = 2, p2 = 3, p3 = 5, and so on). Prove or disprove: For all n Z, P1P2P3 Pn + 1 is prime. 3. Prove that there are infinitely many prime integers....
A small consulting company wants to make the switch to QuickBooks Online. All of their expenses are paid at the time they are incurred, so there is no need to track bills in the system. There is only...
Imagine you are a member of your local school board. You wantan answer to the very simple question, Are students learning?What can you recommend to school principals to answer thequestion?
How is the budgetary cushion calculated, and why should a governmental entity maintain such a cushion?
The Ozark Farm has 20,000 broilers that are fed for 8 weeks before being marketed. The weekly feed per broiler varies according to the following schedule: For the broiler to reach a desired weight...
99 percent per month. In 2014, Boling resolved his suit against the gas can manufacturer. Shortly thereafter, Prospect sent Boling a Schedule of Purchases, asserting that Boling owed Prospect...
Birkenstock is considering an investment in a nylon-knitting machine. The machine requires an initial investment of $25,000, has a 5-year life, and has no residual value at the end of the 5 years....
An 88-year-old presents to a primary care office with their daughter for concerns of a skin ulceration on the lateral ankle with hair loss. This has been ongoing for months and has recently worsened....
Which type of companies will always have operating expenses on its income statement? a. Service. b. Service and merchandising. c. Merchandising and manufacturing. d. Service, merchandising, and...
Which of the following costs would be classified as manufacturing overhead? a. Electricity used in the sales and marketing building. b. Depreciation on the fleet of distribution trucks. c. Lease...
Identify the benefits of a connected world.
Explain about the application software available for Unix operating system?
1. Provide a brief description of your implicit theory of leadership, i.e., your beliefs about the characteristics and behaviors of effective leaders. Does this description seem to agree with or be...
John Kotter describes "What leaders really do." Peter Drucker describes "What makes an Effective Executive." What are the similarities, if any, between the two theories? What are the differences, if...
Explain various mapping procedures of cache memory with an example.?
What is cache memory? How is it different from virtual memory?
TAN LP was formed in 2003 as a limited partnership by a corporate general partner and nine individual limited partners to own and operate rental real estate. The LP originally acquired commercial...
The Cholesterol Level data sets give cholesterol levels of heart attack patients. Cholesterol measures are taken 2, 4, and 14 days aft er a patient has suffered a heart attack. Is there a significant...
Frame Place manufactures picture frames. Suppose the companys May records include the items described below. What is Frame Places total manufacturing overhead cost in May? Oil for manufacturing...
Given the following information for a retailer, compute the cost of goods sold. Ending inventory...
Simply Hair is a retail chain specializing in salon- quality hair- care products. During the year, Simply Hair had sales of $ 39,225,000. The company began the year with $ 2,500,000 of merchandise...
Briefly explain the reasons for the formation of monopolies in digital products.
The price elasticity of toy cars that you sell is 4.00; you currently charge a price of $9.00 and the marginal cost of toy cars is $8.00. a. Calculate the marginal revenue from the given information...
membership with Junktrader, which provides them advance notice of potentially attractive offers. a. Junktrader provided online advertising services for another company for $380 on account. b. On the...

Which of the following types of companies will not have cost of goods sold on its income

Question:

Step by Step Answer:

Managerial Accounting

Students also viewed these Business questions