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)
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)
Cost of Goods Sold
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