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What the main expense of a merchandiser is

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Problem 1: The Gajet Store Inc. started its operations on January 1, 2015. It engages in buying and selling different types of electronic gadgets. The first step in its operating cycle would be to:

A) collect cash from customers.

B) sell goods to customers.

C) purchase inventory from vendors.

D) record the sales in accounts.

Problem 2: The main expense of a merchandiser is:

A) cost of goods sold.

B) current assets.

C) selling and administrative cost.

D) production overheads.

Reference no: EM132772970

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