Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

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What effect does decreasing the cost of goods sold have on income?
  1. Increase
  2. Decrease
  3. No change
  4. Varies from period to period
Explanation
Answer: A - Income is increased when there is a decrease in the cost of goods sold. When cost of goods sold is changed, it has a significant effect on the rest of the financial information.
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