Fundamental Accounting Principles
Fundamental Accounting Principles
23rd Edition
ISBN: 9781259536359
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 5, Problem 13DQ
To determine

Concept Introduction

Income Statement: The Income statement is a financial statement that shows the net income or loss for a particular period. It is a summary of expenses and income of a particular period.

Cost of goods sold: The cost of goods sold is the total cost directly attributable to a product sold or a service provided. These include direct materials, direct labour, and direct overhead costs.

1.

To find: The title of cost of goods sold in the income statement of Samsung.

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Fundamental Accounting Principles

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