BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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By completing an Income Statement, you can make decisions. How could you improve sales?
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reduce selling prices
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reduce the cost price of your product
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increase advertising
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introduce a new product
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Explanation:
Detailed explanation-1: -The Income Statement It is also a useful tool for comparing a company’s performance to others of similar size in similar industries. The data in the income statement helps inform decisions that control operating expenses and the cost of goods sold to keep profit margins intact.
Detailed explanation-2: -The cost of sales is calculated as beginning inventory + purchases-ending inventory. The cost of sales does not include any general and administrative expenses. It also does not include any costs of the sales and marketing department.
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