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Which of these is a sales element of an operating statement?


A) cost of goods sold
B) inventory
C) direct labor
D) returns
E) selling expenses

F) A) and B)
G) A) and C)

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A company's operating statement consists of three key elements: sales of the firm's products and services, costs incurred in making and selling these products and services, and


A) stock turn rates for its various products.
B) profit or loss.
C) markup on cost.
D) return on investment.
E) bundle pricing options.

F) B) and C)
G) A) and D)

Correct Answer

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A company's operating statement is also called


A) an income statement.
B) a balance sheet.
C) a de facto annual report.
D) an assets-liabilities statement.
E) a data mine.

F) A) and D)
G) A) and E)

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A company's gross sales may be reduced by


A) the size of the contribution margin.
B) the percentage of markdowns.
C) depreciation and amortization.
D) stock turn rate and the markup percentage.
E) returns or allowances.

F) A) and B)
G) A) and C)

Correct Answer

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