Sales taxes collected by a retailer are reported asGroup of answer choicescurrent liabilities.expenses.contingent liabilities.revenues.

Sales taxes collected by a retailer are expensesGroup of answer choicesthat are not recognized by the retailer until they are submitted to the government.of the government.of the customers.of the retailer.

Which of the following is reported as part of the operating expenses?Group of answer choicesFreight-inFreight-outCost of salesSales allowances

Which of these is not an expense type item?Group of answer choicesDepreciationDividends paid to shareholdersBank chargesCost of sales

The Sales of a company minus its Cost of Goods Sold are equal to:Group of answer choicesthe gross profit.the operating expenses.the net profit.the variable expenses.

Total revenue minus total cost is equal toGroup of answer choicesprofit.consumer surplus.producer surplus.retained earnings.dividends.