3 years ago

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:

You might be interested in

I attached a pic of my question, pls help.

kiruha [24]

Farmer raising sheep.

3 0

3 years ago

Read 2 more answers

ECNAL Corp. manufactures bicycle parts. One of its new products, the Slipstream tire, is advertised to be 20 percent stronger th

Drupady [299]

Answer:

The correct answer is the option A: Corrective advertising.

Explanation:

To begin with, the concept known as <em>"Corrective Advertising"</em> refers to a severe penalty that is used by many agencies, including the Federal Trade Commision, in ordert to impose to the companies the fact that they had worked unethically regarding certain advertisements that they have been controled by the agency. Therefore that the corrective advertising is a way to penalize those companies, that had advertised products with false information or that might cause harm to the consumers.

5 0

3 years ago

Who will bear the incidence of the tax? suppose the government imposes a tax on three products with differing demand elasticitie

Maksim231197 [3]

If the price elasticity of demand is inelastic, then the incidence of tax will be greater on consumers, as producers can shift most of the tax on them by raising prices. Whereas if it was elastic, then it would be producers.

6 0

3 years ago

The key to success in the "prisoner's dilemma" game is to always be competitive. withdraw when one's partner chooses a competiti

Amiraneli [1.4K]

The key to success in the "prisoner's dilemma" game is to

c) trust one's partner.

6 0

3 years ago

Read 2 more answers

On March 1, 2019, Baltimore Corporation had 65,000 shares of common stock outstanding with a par value of $5 per share. On March

andreyandreev [35.5K]

Answer:

retained earnings 175,500

common stock 48,750

paid in excess of par 126,750

Explanation:

The diivdends are 15% so we multiply this by the shares outstanding to know the amount of shares:

65,000 x 15% = 9,750 shares

Then we multiply by the market value to know the amount needed:

9,750 x $18 market value = $175,500 stock dividends

The common stock will be 9,750 at par

and the remainder will be paid in excess.

9,750 x 5 = 48,750 CS

175,500 - 48,750 = 126,750

7 0

3 years ago