Which of the following would be on the income statement of a retailer?
A) Value of inventory
B) Cost of goods sold
C) Accounts payable
D) Accounts receivable

Question

Quizplus · Accepted Answer

Cost of goods sold represents the direct costs associated with the products sold during a given period of time, which would be included on the income statement of a retailer. Values of inventory, accounts payable, and accounts receivable are typically reported on the balance sheet.

Which of the Following Would Be on the Income Statement