question archive When analyzing Financial Reports such as Balance Sheet and Profit & Loss, what is the best way to spot potential bookkeeping or classification errors? A) Look for unusual balances, such as negative expense B) Analyze gross margin (Costs of Goods Sold divided by Total Sales/Income) to see if the gross margin percentage is consistent with expected value
When analyzing Financial Reports such as Balance Sheet and Profit & Loss, what is the best way to spot potential bookkeeping or classification errors? A) Look for unusual balances, such as negative expense B) Analyze gross margin (Costs of Goods Sold divided by Total Sales/Income) to see if the gross margin percentage is consistent with expected value
Subject:BusinessPrice: Bought3
When analyzing Financial Reports such as Balance Sheet and Profit & Loss, what is the best way to spot potential bookkeeping or classification errors?
A) Look for unusual balances, such as negative expense
B) Analyze gross margin (Costs of Goods Sold divided by Total Sales/Income) to see if the gross margin percentage is consistent with expected value.
C) All of the above are correct
D) None of the above are correct, you must click on "Identify Accounting Errors" to do this.
