Cost of Goods Sold Statement and Income Statement – MCQs

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 11, 2021

1. Which of the following would be an example of direct materials cost?

2. Supervisor's salary is treated as which type of cost?

3. Insurance premium paid for the production facility would be classified as:

4. The cost of goods sold section of a merchandising income statement would not include which of the following?

5. Property tax paid for the sales offices would be classified as:

6. The salary of a production worker is an example of:


Next Quiz: Product Costing Systems 

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

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

True contributes to his own finance dictionary, 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, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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