QUESTION Retained earnings are part of the income statement. O True O False QUESTION 10 A direct expense is: O controllable by the accountant employed by the business O deducted from a department's contributory income O the responsibility of, and controllable by, a department head O allocated to a department without a supporting invoice QUESTION 11 Gross margin is: O income before income tax O sales revenue less indirect expenses O sales revenue less cost of sales O sales revenue less direct expenses QUESTION 12 departmental sales revenue mix refers to the O ratio of sales revenue of various departments to total company sales revenue O ratio of indirect expenses allocated to departments based on the basis of sales revenue O ratio of direct expenses allocated to departments based on sales revenue O deduction of indirect expenses from a department's sales revenue to arrive at contributory incor QUES TION 13 Catering equipment was purchased at a cost of $23,000 that has an estimated life of 10 years and r Click Save and Submit to save and submit. Click Save All Answers to save all answers