10. Choose the options to correctly complete the following statement. Some balance sheet and income statement accounts that vary directly with sales include: 1. Cost of goods sold II. Depreciation III. Accounts payable IV. Accounts receivable O I, II, III only I, II, IV only I, III, IV only O I, II, III, and IV

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
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ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 2SEA: COST OF GOODS SOLD SECTION, MULTIPLE-STEP INCOME STATEMENT Based on the information that follows,...
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10. Choose the options to correctly complete the following statement.
Some balance sheet and income statement accounts that vary directly with sales include:
1. Cost of goods sold
II. Depreciation
III. Accounts payable
IV. Accounts receivable
O I, II, III only
O I, II, IV only
O I, III, IV only
O I, II, III, and IV
Transcribed Image Text:10. Choose the options to correctly complete the following statement. Some balance sheet and income statement accounts that vary directly with sales include: 1. Cost of goods sold II. Depreciation III. Accounts payable IV. Accounts receivable O I, II, III only O I, II, IV only O I, III, IV only O I, II, III, and IV
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