The cost of goods manufactured decreases which of the following accounts?
a. Work in Process Inventory
b. Finished Goods Inventory
c. Overhead
d. Cost of Goods Sold
A
Business
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Gordan Company sold old equipment for $40,000. The equipment had a cost of $100,000 and accumulated depreciation of $50,000. The entry to record the sale of the equipment would include a:
a. loss on disposal of $40,000. b. gain on disposal of $40,000. c. loss on disposal of $10,000. d. gain on disposal of $10,000.
Business
Most of the participants in a supply chain are both suppliers and customers
Indicate whether the statement is true or false.
Business