Question $4(1$ point$)$

What are the elements of Cost of Goods Sold $($CoGS$)?($choose appropriate response$).$

CoGs is used to determine the value of units in inventory.

CoGS does not include costs associated with marketing, sales or distribution.

CoGS is the sum of all direct costs associated with manufacturing a product, including raw materials, all indirect costs and labour but CoS does not have them.

All of the above.

Question $5(1$ point$)$

$$ Saved

Which of the following best describes the Revenue term?

Revenue is about pricing strategy.

Revenue includes every penny your company receives from its business activities.

Associated expenses and gross margin will add to the total revenue.

Revenue will determine profit or loss in the income statement.