Cost of Goods Sold Statement and Income Statement MCQs

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 26, 2023

1. Which of the following is an example of the cost of direct materials?
2. Supervisor's salary is treated as which type of cost?
3. An insurance premium paid for a production facility is classified as:
4. The cost of goods sold section of a merchandising income statement does not include which of the following?
5. Property tax paid for a company's sales offices is classified as:
6. The salary of a production worker is an example of:

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.