Question 13 Which of the following would normally be classified as a Selling expense of Merchandising business? Not yet answered Marked out of 1.00 P Flag question O a. Advertising expense O b. Rent expense of the office Oc. Insurance expense of the office O d. Telephone expense of the office When two digits in an amount are accidentally recorded the wrong way round will be called as: Question 14 Not yet answered Marked out of 1.00 Flag question O a. Error of Omission O b. Error of Transposition Oc Error of Principle O d. Error of Commission Question 15 Which of the following errors will not affect the Trial balance? Not yet answered Marked out of 1.00 Flag question O a. Omitting two aspect of account O b. Wrong balancing of an account Oc Omitting one aspect of account O d. Wrong totaling of an account Assuming that Merchandise business use multiple step income statement. Which of the following will be correct result of Income from operation by the business? Question 16 Not yet answered Marked out of 1.00 P Flag question O a. Gross Margin will be multiplied by Total Operating expenses O b. Gross Margin will be divided by Total Operating expenses Oc Operating expenses will be deducted from net sales O d. Total operating expenses will be deducted from Gross Margin