Which of the following accounts has a normal credit balance?
A) Purchases
B) Freight Out
C) Freight In
D) Purchase Discounts
Correct Answer:
Verified
Q123: If a company has sales of $500,000
Q124: Profit margin is a measure of
A)liquidity.
B)profitability.
C)solvency.
D)comparability.
Q125: Under a periodic inventory system,
A)purchases of inventory
Q126: Use the following financial information to answer
Q127: The Freight In account
A)increases the cost of
Q129: Profit margin is calculated by dividing net
Q130: A company can improve its profit margin
Q131: Detailed records of goods held for resale
Q132: A decline in a company's gross profit
Q133: The gross profit margin is calculated by
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