Which of the following activities is not a component of the operating cycle?
A) Sale of merchandise
B) Payment of employees' salaries
C) Collection of cash from merchandise sales
D) Purchase of merchandise
Correct Answer:
Verified
Q49: Under the periodic inventory system, acquisitions of
Q50: With the periodic inventory system, goods available
Q51: A quality of earnings ratio significantly less
Q52: If net sales are $750,000 and cost
Q53: Gross profit rate is computed by dividing
Q55: Which of the following would not be
Q56: Sales revenues, cost of goods sold, and
Q57: A merchandiser will earn an operating income
Q58: Under the periodic system, when a customer
Q59: Gross profit equals the difference between
A)net income
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents