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Which of the activities is not a component of the operating

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Reference no: EM132739220

Problem 1: Which of the following activities is not a component of the operating cycle?

a. Collection of cash from merchandise sales.

b. Ordering of merchandise.

c. Purchase of merchandise.

d. Sale of merchandise.

Problem 2: Which of the following is a correct definition of gross profit?

a. Gross Profit = Profit + Other Expenses

b. Gross Profit = Net Sales - Net Purchases

c. Gross Profit = Net Sales - Cost of Goods Sold

d. Gross Profit = Net Purchases + Cost of Goods Sold

Reference no: EM132739220

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