shaguftausman07 shaguftausman07

21-12-2022
Business

Answered

net sales, for purposes of applying the retail inventory method, include sales returns but exclude sales discounts and employee discounts.

Answer :

Other Questions

If prices of inventory are unchanged throughout the year, LIFO and FIFO inventory valuation methods will produce the same reported net income. True or False

which of the following is not considered a carrying cost? a.storage costs b.receiving costs c.the opportunity cost of funds invested in inventory d.insurance on

Varahmihir Ltd recorded the following information for the year 2021-22: Earnings before interest and tax (EBIT) $400,000 Net sales $7,600,000 Net assets $5,500,

Suppose a company generally records revenues and expenses before receiving or making cash payments. Which of the following statements is not correct? A.If reven

Suppose a company generally records revenues and expenses before receiving or making cash payments. Which of the following statements is not correct? A.If reven

Which one of the following reflects a weak internal control system? a. all employees are well supervised b. a single employee is responsible for comparing a rec

When the Federal Reserve announces that it is increasing the federal funds rate, we would expect to see banks do which of the following?A. Increase the amount o

if receipts are $1200 and expenses are $950 and net cash flow is $250 then what is the cumulative balance

user accounts that remain active after an employee has left an organization are referred to as being what type of accounts?

A/n ____________, as the term is used with respect to the pass-through deduction, means any trade or business other than a specified service trade or business o