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scoundrel [369]
4 years ago
5

The group of accounting educators who perform research to determine the possible effects on financial reporting and the economy,

and then offer their opinions about proposed FASB statements is the_____
Business
1 answer:
DedPeter [7]4 years ago
5 0

Answer:

The correct answer is American Accounting Association (AAA).

Explanation:

The American Accounting Association (AAA) promotes excellence around the world in education, research and accounting practice. Founded in 1916 as the American Association of University Accounting Instructors, its current name was adopted in 1936. The Association is a voluntary organization of people interested in education and research in the field of accounting.

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Answer:

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Distribution costs are considered when calculating gross margin.

Gross margin is given by sales subtracted by the cost of goods sold:

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The gross margin would be $4,000.

Although the freight cost should be included when calculating net income, more administrative costs could be added and, thus, net income cannot be determined with the given information.

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