Question: 5 The difference between gross sales and net sales is: Cost of goods sold Gross margin O Selling and administrative expenses Sales discounts and

5 The difference between gross sales and net sales is: Cost of goods sold Gross margin O Selling and administrative expenses Sales discounts and sales returns and allowances 6 Which of the following is not a cash control procedure? Invest excess cash in high-yielding securities O Separate the handling and recording of cash O Make all cash disbursements by check Deposit all cash receipts daily

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