It is true that merchandise Inventory is found on the income statement.
false
False
Nope / False
false
true
False
False
false
All states have state income taxes.
False
False
Not really...Gross profit = Net sales - Cost of goods soldThe profit on an item is not dependent upon all of your operating expenses. You would include operating expenses to determine net income for the business, but not to calculate gross profit for the sale of inventory.
If the statement is false, then "This statement is false", is a lie, making it "This statement is true." The statement is now true. But if the statement is true, then "This statement is false" is true, making the statement false. But if the statement is false, then "This statement is false", is a lie, making it "This statement is true." The statement is now true. But if the statement is true, then... It's one of the biggest paradoxes ever, just like saying, "I'm lying right now."
Nope / False
false
true
Yes, a statement can be true or false but without knowing what the statement is no-one can possibly say whether it is true or it is false.