Finshares Objectives Of the Week
1. Revenue is indicated in a single number.
A. False
B. True

A. Revenue, also commonly known as sales, is generally the most straightforward part of the income statement. Often, there is just a single number that represents all the money a company brought in during a specific time period, although big companies sometimes break down revenue by business segment or geography

2. What is NOT true about COGS?
A. lt generates revenue directly
B. It represents the price of products sold
C. It’s the amount of money the company pays to the supplier.

B. There are many kinds of expenses, but the two most common are the cost of goods sold (COGS) and selling, general and administrative expenses (SG&A). Cost of goods sold is the expense most directly involved in creating revenue. It represents the costs of producing or purchasing the goods or services sold by the company.