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    Accounting for Business
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    Exam 4: Recording Transactionsthe Journal and Ledger Accounts
  5. Question
    An Account Used to Calculate Gross Profit on Trading, Prior
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An Account Used to Calculate Gross Profit on Trading, Prior

Question 5

Question 5

Multiple Choice

An account used to calculate gross profit on trading, prior to the profit and loss account is a/an ________ account.


A) cost of sales
B) inventory
C) contra
D) trading

Correct Answer:

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