Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Sales - expenses

B. Income - expenses

C. Sales - cost of goods sold

D. Sales - selling costs

A. Current, fixed

B. Fixed, intangible

C. Tangible, intangible

D. Fixed, current

A. Assumption of economic events

B. Anticipation of economic events

C. Recording of economic events

D. Communication of economic events

A. Amount of sales

B. Gross profit

C. Cost of goods sold

D. Net income

A. Balance sheet

B. Income statement

C. Cash flow statement

D. Statement of changes in equity