Which of the following is subtracted from net sales revenue to arrive at gross profit on a multi-step income statement?
A) cost of goods available for sale
B) cost of goods sold
C) sales discounts and sales returns and allowances
D) operating expenses
B
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During a period of steadily rising costs, the inventory valuation method that yields the lowest reported net income is:
a. Specific identification method. b. Average cost method. c. Weighted-average method. d. FIFO method. e. LIFO method.
Which of the following statements BEST describes the relationship between supervision and role conflict and ambiguity?
A. Close supervision can increase job ambiguity B. When sales managers structure and define the salesperson's role, he or she seems to experience more conflict C. Regular and frequent contact and interactions between role partners and close supervision will insure low levels of role conflict D. Sales managers can do nothing to hold role conflicts and ambiguities at a management level E. Newly hired salespeople perceive less role conflict than experienced salespeople do