1. Which of the following items is found on the balance sheet of a manufacturer?

a.Selling expenses

b.Factory equipment

c.Sales revenue

d.All of these choices are correct.

2. Which of the following is an example of a period cost?

a.General accounting

b.Research and development

c.Selling and marketing

d.All of these choices are correct.

3. Operating income equals:

a.sales revenue cost of goods sold selling and administrative expense.

b.sales revenue cost of goods sold.

c.sales revenue selling and administrative expenses.

d.gross margin cost of goods sold.