Which of the following would not be found on an income statement of a service organization?
A) selling expenses
B) cost of goods sold
C) operating income
D) sales revenue

Question

Quizplus · Accepted Answer

Cost of goods sold refers to the cost of producing or purchasing products that are sold. Service organizations, which do not produce or sell goods, do not have a cost of goods sold on their income statement. The other options (selling expenses, operating income, and sales revenue) would typically be found on an income statement for a service organization.

Which of the Following Would Not Be Found on an Income