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Mohave Community College Operations And Supply Chain Management Assignment Help - mba-560 unit 2 quiz

Question - 1.During the month of March, Wang Company sold merchandise on account for $9,100. The merchandise had cost Wang $4,900. Which of the following represents the effects of this transaction on Wang s financial statements? (Points : 2) Row One Row Two Row Three Row Four 2.What is the relationship between gross margin and net income? (Points : 2) Gross Margin Merchandise Inventory at the end of the period = Net Income Gross Margin Selling and Administrative Expenses = Net Income Gross Margin + Selling and Administrative Expenses = Net income Sales Revenue x Gross Margin Percentage= Net Income 3.Which of the following is not a period cost? (Points : 2) Advertising Expense Sales Commissions Cost of Goods Sold Interest Expense ...Read More

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