The motion for judgment on the pleadings alleges that if the defendant does not file an answer to the plaintiff's complaint, the defendant's liability is established

When is an option in-the-money?

What will be an ideal response?

The entry to close Cost of Goods Sold includes

a. debiting Income Summary and crediting Cost of Goods Sold; b. debiting Cost of Goods Sold and crediting Income Summary; c. debiting Retained Earnings and crediting Cost of Goods Sold; d. debiting Cost of Goods Sold and crediting Retained Earnings; e. debiting Sales and crediting Cost of Goods Sold