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Basic Question 4 of 11
In multi-step income statement, sales discount is presented in the ______.
A. sales or revenue section
B. cost of goods sold section
C. general/selling expense section
A. sales or revenue section
B. cost of goods sold section
C. general/selling expense section
User Contributed Comments 3
| User | Comment |
|---|---|
| viannie | It's Net revenue or sales therefore we take sales discount into consideration on sales / revenue section |
| ndachie | I agree |
| FinanAhmad | thanks viannie for explanation |
I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes
Learning Outcome Statements
evaluate a company's financial performance using common-size income statements and financial ratios based on the income statement
CFA® 2025 Level I Curriculum, Volume 2, Module 2.