81. What is the term used to the excess of net revenue from sales over the cost of merchandise sold? A. gross profitB. earnings from operationsC. net incomeD. gross sales

82. The term "inventory" deserve to indicate A. merchandise organized for sale in the normal course of businessB. equipment supplied to manufacture productsC. suppliesD. any kind of asset

83. A firm using the routine inventory device has actually the adhering to account balances: Merchandise Inventory at the beginning of the year, $3,600; Freight-In, $650; Purchases, $10,700; Purchases Retransforms and also Allowances, $1,950; Purchases Discounts, $330.  The expense of merchandise purchased is equal to  A. $12,670B. $9,070C. $8,420D. $17,230

84. A firm, utilizing the regular inventory system, has actually merchandise inventory costing $175 on hand also at the beginning of the period.  Throughout the period, merchandise costing $635 is purchased.  At year-finish, merchandise inventory costing $160 is on hand.  The cost of merchandise offered for the year is  A. $970B. $650C. $300D. $620

85. Expenses that are incurred straight or totally in connection via the sale of merchandise are classified as  A. offering expensesB. basic expensesC. other expensesD. bureaucratic expenses

86. Office salaries, depreciation of office equipment, and office supplies are examples of what form of expense? A. selling expenseB. miscellaneous expenseC. bureaucratic expenseD. various other expense

87. The create of earnings statement that derives its name from the reality that the complete of all prices is deducted from the full of all earnings is referred to as a  A. multiple-action statementB. revenue statementC. report-form statementD. single-action statement

88. Multiple-action income statements display  A. gross profit but not earnings from operationsB. neither gross profit nor revenue from operationsC. both gross profit and earnings from operationsD. income from operations yet not gross profit

89. When the three sections of a balance sheet are presented on a page in a downward sequence, it is dubbed the  A. account formB. comparative formC. horizontal formD. report form

90. The kept income statement mirrors  A. net income, dividends, and beginning and also ending preserved earningsB. complete assets and start and also ending kept earningsC. net income and finishing retained earnings onlyD. the transforms in all stockholders’ equity accounts throughout the period