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BARSIC [14]
3 years ago
8

Cost of Merchandise Sold is a liability account. True False

Business
2 answers:
Murljashka [212]3 years ago
8 0

Answer:

False

Explanation:

Cost of goods sold is not an asset (what a business owns), nor is it a liability (what a business owes). It is an expense.

jeyben [28]3 years ago
4 0

Answer:

true

Explanation:

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The chart of accounts is designed to
SOVA2 [1]

Answer: The correct answer is b).meet the information needs of a company's managers and other users of its financial statements

Explanation: Chart of accounts refers to list of accounts of an organization. It shows at a spot how an organisation receives money and spends money.

Chart of accounts contains Assets, Liabilities, Income, Expenses and Equity.

3 0
3 years ago
When you begin working, you will most likely be both a _____ and a _____ in a market economy.
laila [671]
Producer & Consumer should be the correct answer
6 0
3 years ago
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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses a
Ludmilka [50]

Answer:

$44,377

Explanation:

Note: The answers (options) attached this question belongs to another question

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Salaries ($48,000*1,200/3,500)                           $16,457

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5 0
2 years ago
Privacy protection in the united states is ________ in europe.
Rus_ich [418]
<span>Privacy protection in the United states is much less stringent than in Europe.

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7 0
3 years ago
Permanent tax cuts shift the AD curveSelect one:a. farther to the left than do temporary tax cuts.b. not as far to the right as
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Answer:

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The permanent tax cuts have more impact on consumption spending than temporary one. A permanent tax cut raises the expected lifetime wealth and increases autonomous consumption, thus leading to an upward shift of the consumption function. Consequently the permanent tax cuts shift the AD curve farther to the right compared to the temporary tax cuts.

6 0
3 years ago
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