The income statement shows net sales which is equal to a. earnings before taxes
ID: 2737688 • Letter: T
Question
The income statement shows net sales which is equal to
a.
earnings before taxes minus taxes.
b.
gross revenues minus returns and allowances.
c.
net sales minus cost of goods sold.
d.
operating income minus interest.
e.
operating income minus operating expenses.
The income statement shows net sales which is equal to
a.
earnings before taxes minus taxes.
b.
gross revenues minus returns and allowances.
c.
net sales minus cost of goods sold.
d.
operating income minus interest.
e.
operating income minus operating expenses.
Explanation / Answer
Net sales = Gross revenues - Returns and allowances
Correct choice:B
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