Cost of goods sold equals gross profit

Assignment Help Financial Management

Reference no: EM131300176

Which of the following statements is true?

a. Only service companies report both cost of goods sold and gross profit.

b. Cost of goods sold is the largest expense item for many firms.

c. Cost of goods sold is not affected by the choice of inventory valuation method.

d. Cost of goods sold equals gross profit.

Reference no: EM131300176

Questions Cloud

What rate of return will stein need to achieve this goal : Dr. Stein has just invested $ 100.000 for his son. The money will be used for his son's education 10 years from now. He calculates that he will need $215, 980 for his son's education by the time his son goes to school. What rate of return will Dr. st..

Considering two equally risky annuities : You are considering two equally risky annuities, each of which pays $5,000 per year for 10 years. Investment ORD is an ordinary (or deferred) annuity, while Investment DUE is an annuity due. If the going rate of interest decreases from 10% to 0%, the..

Identify a national commercial bank : Identify a national commercial bank (not the holding company) – one with total assets exceeding $10 billion. Ensure it is a commercial bank (not a savings bank, not a credit card company), or your assignment will not be considered. Note also, we are ..

Expected return on equally weighted portfolio of three stock : Consider the following information: What is the expected return on an equally weighted portfolio of these three stocks? What is the variance of a portfolio invested 16 percent each in A and B and 68 percent in C?

Cost of goods sold equals gross profit : Only service companies report both cost of goods sold and gross profit. Cost of goods sold is the largest expense item for many firms. Cost of goods sold is not affected by the choice of inventory valuation method. Cost of goods sold equals gross pro..

Effective annual return of eight percent on this investment : Peter Lynchpin wants to sell you an investment contract that pays equal $12,100 amounts at the end of each year for the next 21 years. If you require an effective annual return of 8 percent on this investment, how much will you pay for the contract t..

What rate would legally have to be quoted : A local finance company quotes an interest rate of 19.3 percent on one-year loans. So, if you borrow $45,000, the interest for the year will be $8,685. Because you must repay a total of $53,685 in one year, the finance company requires you to pay $53..

What is required reporting for discontinued operations : What is the required reporting for discontinued operations?

How much will you have in the account in six years : Fowler Credit Bank is offering 6.1 percent compounded daily on its savings accounts. You deposit $4,500 today. How much will you have in the account in 6 years? How much will you have in the account in 18 years?

User Account

All Pages