Multiple Choice
The major revenue of a merchandiser is ________ while the major expense(s) is (are) ________.
A) sales revenue; cost of goods sold
B) gross margin; operating expenses
C) income from operations; cost of goods sold
D) sales revenue; operating expenses
Correct Answer:

Verified
Correct Answer:
Verified
Q100: The following refers to periodic inventory:
Q101: Following is a random list of
Q102: Following is a random list of
Q103: Cost of goods sold is $7,400. Beginning
Q104: Purchase returns of merchandise decrease the liability
Q106: Table 5-3 <span class="ql-formula" data-value="\begin{array}
Q107: Table 5-9<br>Reid Art Supply Company uses
Q108: Day Company purchased $3,000 of merchandise on
Q109: Under a perpetual inventory system, the entry
Q110: Gross margin is equal to net sales