Solved: What type of account is cost of goods sold your choices are, Accounting Basics

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What type of account is cost of goods sold your choices are

Questions -

1. What type of account is Cost of Goods Sold? Your choices are asset, contra asset, liability, stockholder's equity, contra stockholder's equity, revenue, or expense.

2. What is the normal balance of cost of goods sold? Your choices are Debit or Credit.

3. Which financial statement does cost of goods sold appear on? Your choices are Income Statement, Statement of Retained Earnings, or Balance Sheet.

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Accounting Basics: What type of account is cost of goods sold your choices are

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