24: What is the cost of goods sold for a retail operation? Answer: A. B. C. D. The difference between the wholesale and resale prices The wholesale purchase price The selling price The price of any discounts provided Question 30: When you create paychecks, which account is credited? Answer: A. Gross Wages B. Payroll Expenses C. D. Payroll Liabilities Accounts Payable Question 20: Why use class tracking? Answer: A. To produce an accurate profit & loss report B. To produce an accurate balance sheet C. To produce reports that focus on assets and expenses D. To produce reports that focus on the aspect of the business you're tracking