The fees charged businesses by banks on credit card transactions can be shown on the income statement as
A) A discount from revenue used in determining net sales
B) A selling expense
C) An administrative expense
D) All of the above
E) None of these

Question

Quizplus · Accepted Answer

The fees charged by banks on credit card transactions can be classified in various ways on the income statement, including as a discount from revenue (affecting net sales), a selling expense, or an administrative expense, depending on the accounting policies of the business.

The Fees Charged Businesses by Banks on Credit Card Transactions