On which financial statements would you look to find the total costs of merchandise that remains and the total that has been sol
d? Select one: A. Statement of cash flows and balance sheet B. Balance sheet and income statement C. Balance sheet and statement of cash flows D. Statement of stockholders' equity and balance sheet
The answer is B. Balance sheet and income statement
Explanation:
Merchandise is an inventory. It is bought and sold.
We can get the total cost of merchandise that were sold and remained in income statement.
In income statement, this can be gotten from cost of sales(cost of goods sold). This tells us the total amount of goods that were sold and the closing/ending inventory tells us the total cost of merchandise remaining.
And in the balance sheet, we can get it under current asset. The balance of inventory tells us how much of merchandise remaining at a period.
The franchisor owns the brand and the operating system that they license to their franchisees. ... The franchisor grants the franchisee the right to operate the business under the franchise system's trademarks and service marks and enforces the brand standards of the system.
A) Understanding which information assets need protection
Explanation:
The first thing Lora must do is determine which data assets need to be protected. This applies to all security protocols, since the person in charge of the security must first know what he/she is supposed to protect in order to determine what is the best way to protect it.
Imagine if Lora didn't know what assets were important and which weren't, how could she know what thing she should be protecting?
