Which of these account balances is not reported on the balance sheet?
A) Cost of sales
B) Materials inventory
C) Work in progress inventory
D) Finished goods inventory

Question

Quizplus · Accepted Answer

Cost of sales is an expense account and is reported on the income statement, not on the balance sheet. Materials inventory, work in progress inventory, and finished goods inventory are all assets that are reported on the balance sheet.

Which of These Account Balances Is Not Reported on the Balance