Which of the following is subtracted from Sales revenue to arrive at Net sales revenue?
A) Cost of goods available for sale
B) Cost of goods sold
C) Sales discounts and Sales returns and allowances
D) Operating expenses

Question

Quizplus · Accepted Answer

Sales discounts and Sales returns and allowances are subtracted from Sales revenue to arrive at Net sales revenue. Cost of goods available for sale and cost of goods sold are used to calculate gross profit, while operating expenses are subtracted from gross profit to calculate net income.

Which of the Following Is Subtracted from Sales Revenue to Arrive