________ represent the total cost of obtaining materials for making the products sold by a firm during the year.
A) Net profits
B) Cost of goods sold
C) Revenues
D) Operating expenses

Question

Quizplus · Accepted Answer

Cost of goods sold represents the total cost of obtaining materials for making the products sold by a firm during the year. Net profits represent the amount of money a company earns after deducting all expenses. Revenues represent the total amount of money a company earns from selling goods or services. Operating expenses represent the costs associated with running a business, such as salaries, rent, and utilities.

________ Represent the Total Cost of Obtaining Materials for Making