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The Cost field in the Product/Service information window contains the a. cost of...

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Question

Accounting

The Cost field in the Product/Service information window contains the
a. cost of goods sold account.
b. unit cost for the item.
c. selling price for the item.
d. selling price for the item, plus sales tax.
For inventory items in the Products and Services List, the Income account field indicates the general ledger posting account for
If you accidentally make an inventory item inactive, click the icon and then click at the Status drop-down list to display the inactive product again.
To record a purchase and receipt of an inventory item on account, begin by clicking on the title bar.
a. the + New button
b. the Gear icon
c. anywhere
d. the Search icon
When a company is required to collect sales tax on an item sold, the tax amount is
a. subtracted from the retail price of the product.
b. subtracted from the invoice total.
c. added to the retail price of the product.
d. added to the retail price of the products and services.
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