What is the expense in the statement of financial performance which represents the purchase price of the goods that have been sold?
A)Payments for stock
B)Cost of sales
C)Sales
D)Merchandise

Question

Quizplus · Accepted Answer

Cost of sales represents the cost of goods sold or the purchase price of the goods that have been sold. Payments for stock refer to the cost of purchasing inventory, sales represent revenue earned, and merchandise is the inventory or goods being sold.

What Is the Expense in the Statement of Financial Performance